World Ready To Build Semiconductor Future With India: PM Modi

Prime Minister Narendra Modi on Tuesday said that global confidence in India is at an all-time high and the world is ready to partner with the country in shaping the future of the semiconductor industry.

He further added that the government will soon introduce the next wave of reforms in this sector.

Key Takeaways

Inaugurating ‘Semicon India 2025’ at Yashobhoomi, PM Modi underlined India’s rising importance in the global chip market, stressing that the nation is likely to play a crucial role in the trillion-dollar semiconductor economy.

“Investments of $18 billion are being made in 10 semiconductor projects approved since 2021,” he said. “The world trusts India, the world believes in India, and the world is ready to build the semiconductor future with India,” remarked the Prime Minister, noting that if oil shaped the last century, the semiconductors will shape the future.

The Prime Minister pointed out that the semiconductor market has already touched $600 billion and is on track to cross $1 trillion, with India set to be a major contributor.

He said the country’s ambitions extend beyond chip manufacturing.

“Our semiconductor industry goes beyond chip manufacturing; we are building such a semicon ecosystem that will make India globally competitive and Atmanirbhar,” the PM noted.

Highlighting progress, he noted that design centres in Noida and Bengaluru are developing some of the world’s most advanced chips, while India is also working on addressing challenges faced by the global industry.

The Prime Minister linked this progress to India’s wider economic strength, noting that the country recorded 7.8 per cent growth in the April–June quarter despite international headwinds.

“Just a few days ago, the GDP numbers for the first quarter of this year have come. Once again, India has performed better than every expectation, every assessment. At a time when there are concerns in the economy of the world, there are challenges of economic selfishness; in that environment, India has achieved a growth of 7.8 per cent,” PM Modi stated.

Vaishnaw Invites Global Investment

Union Electronics and IT Minister Ashwini Vaishnaw also spoke at the event, calling on global firms to invest in India’s chip industry and emphasising that the country has built a strong base for growth in just a few years.

The India Semiconductor Mission (ISM) under the Ministry of Electronics and Information Technology and SEMI, the international semiconductor association, are jointly organising the three-day ‘Semicon India 2025’ conference from 2 to 4 September under the theme ‘Building the Next Semiconductor Powerhouse’.

It is one of South Asia’s largest gatherings in the field, featuring more than 350 exhibitors from 33 countries, over 15,000 visitors, six country roundtables, four national pavilions, and participation from nine Indian states.

Sessions will cover topics including semiconductor fabs, advanced packaging, research and development, artificial intelligence, smart manufacturing, state-level policies, and investment prospects.

Also Read: An Insult To My Mother Is An Insult To All Mothers, Says PM Modi