PM Modi Urges Semicon Industry to Invest in India, Highlights Growth Potential
Prime Minister Narendra Modi called on global semiconductor industry leaders to invest in India during his address at the Semicon India 2024 summit. Speaking in Greater Noida, Modi emphasized India’s strategic position in the global semiconductor ecosystem, stating, “When the chips are down globally, you can bet on India.”
He highlighted India’s growth as a semiconductor hub, noting that the country is one of only eight nations advancing a global semiconductor initiative. Modi pointed to India’s talent, contributing 20% of the global semiconductor design workforce, and the government’s focus on training 85,000 engineers and technicians for the industry.
Modi also underscored India’s role in technology-driven global growth, particularly in collaboration with the U.S., and its efforts to expand the electronic sector. He cited India’s $150 billion electronics market and its status as the second-largest exporter of 5G phones.
In his remarks, Modi emphasized that balancing technology and democracy is crucial for advancing the semiconductor sector globally. He assured industry leaders of a supportive, stable policy environment under the “Make in India” and “Make for the World” initiatives.
