Semicon India 2024: ‘In 21st century India, the chips are never down,’ says PM Modi

Semicon India 2024: Prime Minister Narendra Modi announced on Wednesday that India is creating a semiconductor workforce of 85,000 technicians, engineers, and R&D experts, as part of its efforts to boost the nation’s role in semiconductor design and manufacturing. Modi also revealed plans to establish a Semiconductor Research Centre at the Indian Institute of Space Sciences, in collaboration with Indian Institute of Technology (IITs), aimed at developing high-tech and next-generation chips.

Speaking at the inauguration of SEMICON India 2024, a three-day conference themed “Shaping the Semiconductor Future,” Modi highlighted the country’s growing contribution to global design, which currently stands at 20 per cent. “India is focused on making its students and professionals industry-ready,” he said. 

This comprehensive strategy, Modi indicated, follows the Union Budget 2023-24 announcement of the National Research Foundation (NRF), supported by an outlay of Rs 1 lakh crore over five years to strengthen research and development (R&D) across various sectors. The NRF aims to promote collaboration between industry, academia, and government, driving innovation in science, technology, and key areas.

India is the eighth country to host a global semiconductor industry event that serves as a platform to highlight the country’s ambitious semiconductor strategy, with the aim of positioning the country as a global hub for semiconductor manufacturing. Modi stressed India’s growing importance in the global semiconductor landscape: “In 21st century India, the chips are never down,” he said, adding, “When the chips are down, you can bet on India.”

He emphasised India’s unique potential in the sector, stating, “Our dream is that every device in the world will have an Indian-made chip.” Modi also pointed to the government’s focus on securing critical minerals for the semiconductor industry and the Critical Mineral Mission aimed at boosting domestic production and overseas acquisition.

Modi highlighted India’s "3D power," which includes a reformist government, a growing manufacturing base, and an aspirational market attuned to technological trends. With robust policies and support, including 50 per cent financial assistance for semiconductor manufacturing facilities and significant involvement from state governments, India’s semiconductor sector has already drawn in over Rs 1.5 lakh crore in investments, he further said.

Addressing global collaborations and the rise of 'Silicon Diplomacy,' Modi highlighted partnerships with countries such as Japan, Singapore, and the United States. He encouraged sceptics to reflect on the success of the Digital India Mission, stating India’s transformation into the world’s second-largest producer of mobile phones and its swift progress in the 5G handset market.

Highlighting India’s expanding electronics sector, which is valued at over $150 billion, Modi outlined plans to grow it to $500 billion and create 6 million jobs by 2030. “Our goal is that 100 per cent of electronic manufacturing should happen in India. India will make semiconductor chips and the finished product too,” he said.

Modi also reiterated the importance of building a resilient semiconductor supply chain, stating, “Whether it was Covid or war, there hasn’t been a single industry unaffected by supply chain disruptions. India is playing a central role in building resilience across sectors.”

SEMICON India 2024, concluding Friday will showcase India’s semiconductor policies and vision, bringing together global leaders, companies, and experts from the industry. Top executives from leading semiconductor firms will participate, alongside more than 250 exhibitors and 150 speakers.