Thu Sep 12 10:51:03 UTC 2024: ## India Aims to Become Global Semiconductor Hub, PM Modi Unveils Ambitious Plans at Semicon India 2024
**New Delhi, India** – Prime Minister Narendra Modi addressed the Semicon India 2024 event on Wednesday, outlining India’s ambitious vision to become a global semiconductor hub. He highlighted various initiatives and achievements, positioning India as a key player in the global semiconductor industry.
“India is now the eighth country globally to host an event focused on the semiconductor industry,” PM Modi stated, emphasizing the country’s growing prominence in the field. He assured attendees that India is well-positioned for success in this sector, asserting that “when the chips are down, the world can count on India’s growing semiconductor ecosystem.”
PM Modi stressed the importance of collaboration between industry and government, highlighting the unique “special diodes” in India’s semiconductor industry, where both sectors contribute equally. The government, he said, is providing stable policies and a business-friendly environment, while industries invest and create value.
He also emphasized India’s strong foundation in semiconductor design, accounting for 20% of global talent in this field. To further strengthen the industry, PM Modi announced plans to create a workforce of 85,000 skilled professionals, including technicians, engineers, and R&D experts.
The Prime Minister announced a Rs 1 trillion research fund under the Anusandhan National Research Foundation to bolster India’s research capabilities and drive innovation. He also unveiled a significant government initiative to support semiconductor manufacturing in India, offering 50% financial support for setting up facilities, with state governments actively participating. This has already attracted over Rs 1.5 trillion in investments, with more projects expected in the pipeline.
The comprehensive Semicon India Program, PM Modi explained, provides financial assistance for front-end fabs, display fabs, and semiconductor packaging, ensuring all critical components of the supply chain are covered.
To ensure access to essential minerals for the semiconductor industry, the government has launched the Critical Mineral Mission, aimed at boosting domestic production and securing overseas acquisitions. Additionally, the government is offering customs duty exemptions and conducting mining auctions to support the sector.
PM Modi also highlighted international collaborations, emphasizing India’s close partnerships with countries like Japan and the US. India is a key partner in the QUAD Semiconductor Supply Chain Initiative and has signed several agreements to strengthen global semiconductor cooperation.
The Prime Minister shared India’s ambitious goal of growing the electronics sector to $500 billion and creating 6 million jobs by the end of the decade. This growth, he said, will directly benefit the semiconductor industry.
India’s electronics sector currently stands at $150 billion, and PM Modi highlighted the country’s remarkable progress in mobile phone manufacturing, especially in 5G handsets. India has transitioned from being a major importer of mobile phones to becoming the world’s second-largest producer and exporter.
PM Modi emphasized India’s vision to achieve 100% domestic electronic manufacturing, including chips.
Semicon India 2024, a three-day conference from September 11th to 13th, showcases India’s semiconductor strategy and policy, with the goal of establishing the country as a global hub for semiconductor design, manufacturing, and technology. The event brings together over 250 exhibitors and 150 speakers from across the globe to discuss the future of the semiconductor industry, highlighting India’s growing significance on the global stage.
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