Aiming For India-Made Chip In Every Device: PM

Resilience of the supply chain is very important. India is working to create the same in different sectors of the economy. Chips are never down in India and you can bet on our growth story - Narendra Modi,Prime Minister

Greater Noida (UP): Prime Minister Narendra Modi on Wednesday said resilience of supply chains is critical for the economy as he made a pitch to boost investments in domestic manufacturing of semiconductors -- the foundation of everything from smartphone to EV and AI.

Speaking at the SEMICON-2024 conference on the outskirts of the national capital, the Prime Minister said the Covid pandemic showed the importance of the supply chain and underscored the need to act to ward off any disruption.

“Resilience of the supply chain is very important,” he said. “India is working to create the same in different sectors of the economy.” The world witnessed supply shocks during Covid-19, as stringent measures to control the spread of pandemic in China affected the industries and sectors dependent on imports from that country. One of the sectors impacted was chips that form a critical part of every electronic device. Prime Minister showcased India’s reformist regime, stable policies and a market that has tasted technology to make a strong pitch for investments in semiconductor manufacturing.

The government is offering 50 per cent financial support for setting up semiconductor manufacturing facilities. With India’s electronics sector now valued at over $150 billion, the Prime Minister outlined a larger goal to grow the country’s electronics sector to $500 billion and create 6 million jobs by the end of this decade.

“Our goal is that 100 per cent of electronic manufacturing should happen in India. India will make semiconductor chips and the finished product too,” said the Prime Minister.

Whether it is mobile manufacturing, electronics, or semiconductors, “our focus is clear - we want to build a world that doesn’t stop or pause in times of crisis, but keeps moving forward,” PM Modi emphasised.

Reformist Government

“India provides a reformist government, a growing manufacturing base and an aspirational tech-oriented market,” PM Modi told the gathering. “It is our dream to have an India-made chip in every device in the world,” he said and added that “We will do everything that is needed to make India a semiconductor powerhouse.” Talking of steps taken by his government to boost semiconductor manufacturing, he said a reformist government, a growing manufacturing base and an aspirational market that has tasted technology provide a ‘Three-D Power’ for chip making in the country.

“Today’s India inspires confidence in the world. When the chips are down, you can bet on India,” he said. He said investment of over Rs1.5 lakh crore has already been committed in semiconductor manufacturing and many projects are in pipeline.

This is right time to be in India

Prime Minister Modi further stated that this is the right time and place to be in India when it comes to semiconductor manufacturing, as the country provides an integrated ecosystem for the global players, along with ease of doing business and a large talent pool.

Modi said: “Chips are never down in India and you can bet on our growth story.”

“Come, invest and create value and we will provide an integrated ecosystem for your growth. India has 20 per cent of the global talent in semiconductor design which is consistently growing. We are building an 85,000-strong semiconductor workforce with technicians, R&D experts and designers,” said the Prime Minister.