With already poured ₹1.5 trillion in the sector, Prime Minister Modi’s inaugural speech at the SEMICON India 2024 was all about India’s trail towards being a global semiconductor manufacturing hub.
Prime Minister Narendra Modi officially opened SEMICON India 2024 on Wednesday morning at the India Expo Mart in Greater Noida, Uttar Pradesh. Noting that India has consistently remained reliable during the difficult times for the global chip industry, he stated in his inaugural speech that this is the best time to invest in India.
His keynote further emphasised the importance of resilient supply chains in the global economy and advocated for India’s semiconductor manufacturing potential.
SEMICON India 2024, organised in collaboration with SEMI, Messe Muenchen India, and the Electronic Industries Association of India (ECLINA), is scheduled from September 11 to 13 under the theme ‘Shaping the Semiconductor Future.’
The three-day event will showcase India’s plans to become a global semiconductor hub. It will feature top executives from major semiconductor companies and bring together international experts, businesses, and experts. Over 250 exhibitors and 150 speakers will participate.
Modi announced that India has secured over ₹1.5 trillion in investments for semiconductor manufacturing, a stepping stone towards bolstering the country’s as a global competitor.
He outlined India’s ‘Made-in-India’ vision to ensure that every electronic device globally contains a fully domestic semiconductor chip, highlighting the country’s aim to become a significant player in the global semiconductor supply chain. The Prime Minister identified three key drivers of India’s semiconductor sector—reform-oriented governance, a growing manufacturing base, and a tech-savvy market—collectively called the “Three-D Power,” which underpin the nation’s semiconductor ambitions.
Reflecting on the supply chain disruptions experienced during the COVID-19 pandemic, Modi underscored the need for robust supply chains across different sectors. He stressed India’s commitment to enhancing its own supply chains, particularly in semiconductor manufacturing, to mitigate future global crises.
Semiconductor stocks surged following Prime Minister Narendra Modi’s pledge to advance India’s semiconductor infrastructure at the SEMICON India 2024 event.
