PM Modi Inaugurates SEMICON India 2024: Prime Minister Narendra Modi inaugurated the SEMICON India 2024 conference on Wednesday, September 11, 2024, at the India Expo Mart in Greater Noida. During the event, he highlighted the significance of semiconductors for India, stating, “For India, chips are a means to fulfill our millions of aspirations. Today, India is a major consumer of chips. We have built the world’s best digital public infrastructure on these chips. This small chip has become very useful for ensuring last-mile delivery in India.”
India’s Semiconductor Vision
PM Modi noted that India is the eighth country in the world to host such a global semiconductor event, and emphasized that it is the right time to be in India. He explained that India is focusing on a three-dimensional approach to the semiconductor sector: a reformist government, a growing manufacturing base, and an emerging market that understands technology. He praised India’s banking system for performing well during the global pandemic, even when strong banking systems worldwide faltered.
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Steps to Increase Semiconductor Production
Modi stated that the current focus is on increasing the number of chips and boosting production in India. The Indian government is providing 50% support for semiconductor production, with state governments also contributing. Policies have led to investments exceeding $1.5 trillion in a short period, and several projects are in the pipeline. The SEMICON event is a remarkable initiative reflecting this vision.
Era of Silicon Diplomacy
PM Modi also highlighted that we are in an era of “Silicon Diplomacy.” This year, the Vice President of the Indo-Pacific Framework’s Supply Chain Council was chosen. India has recently signed agreements with countries including Japan and Singapore, and collaboration with the US is continually growing. Modi addressed those questioning India’s focus on semiconductors by pointing to the Digital India Mission, which aimed to provide a transparent, efficient, and leak-proof framework. He also mentioned that India has become the largest market for 5G handsets, even though 5G rollout began only two years ago.
