Prime Minister Narendra Modi inaugurated SEMICON India 2024 at the India Expo Mart in Greater Noida, Uttar Pradesh on Wednesday. The three-day conference, running from September 11 to 13, aims to showcase India’s ambitious semiconductor strategy and policy, with the ultimate goal of transforming the country into a global hub for semiconductor design and manufacturing.
During his inaugural address, Prime Minister Modi expressed gratitude to SEMI members and highlighted India’s significance as the eighth country worldwide to host such a prestigious event in the semiconductor sector. “This is the right time to be in India. You are at the right place at the right time,” PM said, emphasizing that “In 21st-century India, the chips are never down.”
The Prime Minister drew an analogy between the semiconductor industry and a diode, noting that India’s semiconductor sector operates with “special diodes” where energy flows bidirectionally. This metaphor underscored the symbiotic relationship between industry investments and government support through stable policies and improved ease of doing business.
PM Modi highlighted India’s increasing role in global semiconductor design, saying that Indians now make up 20% of the workforce in the sector. He announced ambitious plans to create a semiconductor workforce of 85,000 technicians, engineers, and R&D experts.
The Prime Minister also mentioned the recently established Anusandhan National Research Foundation and a special research fund of Rs 1 trillion, both aimed at energizing India’s research ecosystem and driving innovation in the semiconductor space.
Emphasizing India’s unique position, PM Modi spoke about the country’s “3D power” – a reformist government, a rapidly growing manufacturing base, and an aspirational market aware of technological trends. He stressed the importance of chips in fulfilling the aspirations of millions of Indian citizens and powering the country’s robust digital public infrastructure.
The Prime Minister outlined several government initiatives to promote semiconductor manufacturing, including a 50% financial support scheme for setting up semiconductor facilities and the comprehensive Semicon India Program, which provides financial support across the entire semiconductor supply chain. PM Modi also announced the Critical Mineral Mission to boost domestic production and overseas acquisition of essential minerals for the semiconductor industry.
PM Modi underscored India’s increasing role in global semiconductor initiatives. He mentioned India’s appointment as Vice Chair of the Indo-Pacific Economic Framework’s Supply Chain Council, its key partnership in the QUAD Semiconductor Supply Chain Initiative, and deepening cooperation with countries like Japan, Singapore, and the United States in the semiconductor sector.
He highlighted the country’s remarkable shift from being a major mobile phone importer to becoming the world’s second-largest producer and exporter. Setting an ambitious target, PM Modi announced plans to expand India’s electronics sector to $500 billion by 2030, which he said would create 6 million jobs.
Emphasizing India’s role in building resilient global supply chains, PM Modi said, “India’s semiconductor ecosystem is a solution not just for India’s challenges but also for global challenges.” He stressed the importance of combining technology with democratic values and reaffirmed India’s commitment to creating a world that remains functional even in times of crisis.
The event was attended by key figures including Uttar Pradesh Chief Minister Yogi Adityanath, Union Minister for Electronics and Information Technology Ashwini Vaishnaw, and leaders from global semiconductor companies.
With over 250 exhibitors and 150 speakers participating in the conference, SEMICON India 2024 is set to be a landmark event in India’s journey towards becoming a semiconductor powerhouse.
