Outlining India’s goal and potential to lead in semiconductor and electronics manufacturing, PM Modi spoke on youth talent and local innovations to boost global competitiveness at the Red Fort.
In the 78th Independence Day address, Prime Minister Narendra Modi announced that India aims to become a global hub for end-to-end semiconductor solutions and advanced electronics manufacturing. In his Red Fort speech on Thursday, he emphasised leveraging the talent of the country’s large pool of skilled youth and IT professionals to drive technological innovation.
The PM also encouraged the younger generation to develop and design products and services domestically, including creating video games with global appeal.
Modi stated the future importance of semiconductors, emerging technologies, and AI. He highlighted India’s semiconductor mission to create ‘Made in India’ chips, leveraging local talent and research to boost global production capacity.
In December 2021, the government introduced a Rs 760 billion chip incentive scheme, offering a 50% subsidy on plant capital expenses. So far, four proposals have been approved: a Tata-Taiwanese fab and three packaging plants, including one by Micron. Most projects are in Gujarat, with a Tata packaging plant in Assam.
The Prime Minister outlined the government’s goal to boost manufacturing and employment, lauding the success of PLI schemes and FDI reforms. He focused on India’s youthful population and advancing in Industry 4.0 while stressing the need for high-quality, internationally competitive electronic products and services.
