At the inauguration of SEMICON India 2024, Prime Minister Narendra Modi unveiled a comprehensive vision for India’s semiconductor industry, emphasizing the dynamic interplay between investors and government initiatives. The event, held at the India Expo Centre in Greater Noida, showcased India’s commitment to becoming a global leader in semiconductor technology.
PM Modi described the Indian semiconductor industry as a model of mutual energy exchange, where investors bring value and innovation while the government provides a stable policy environment and facilitates ease of business. “Our semiconductor sector thrives on a reciprocal relationship,” Modi stated. “Investors drive value creation, and in return, the government ensures that policies are conducive to business growth and technological advancement.”
The Prime Minister also highlighted India’s proactive approach to building a skilled workforce for the semiconductor industry. “We are preparing 85,000 professionals to contribute to this sector, enhancing global talent expansion and strengthening our position in the global technology landscape,” he noted.
In a move to bolster innovation and support the semiconductor ecosystem, India has established a ₹1 trillion research fund. “This substantial research fund will be instrumental in advancing semiconductor technology and fostering a thriving ecosystem for innovation,” Modi added.
Modi also introduced the concept of India’s unique “3D Power,” which he described as a distinctive foundation for the semiconductor industry. “Our focus on semiconductor infrastructure is complemented by what we call the 3D Power,” he explained. “This unique framework, which stands unmatched elsewhere, encompasses our commitment to development, design, and deployment, forming the bedrock of our semiconductor strategy.”
The SEMICON India 2024 conference, featuring leaders from the semiconductor sector and technology experts, underscores India’s strategic focus on expanding its role in the global semiconductor market. Modi’s remarks reflect a vision of India as a pivotal player in semiconductor innovation, supported by a robust talent pool, significant investment in research, and a distinctive strategic framework.
