Wednesday, July 24, 2024

Narendra Modi

A semiconductor revolution is brewing in India

August 16, 2023 12:10 PM IST

India | Narendra Modi | Chip | semiconductor chip manufacturers | semiconductor | SemiconIndia Conference 2023 | financial assistance | chip supplier

Narendra Modi recently made a significant move to attract semiconductor chip manufacturers to the country. At the SemiconIndia Conference 2023, he offered a generous 50 percent financial assistance to firms willing to set up their facilities in India. This ambitious step aims to position India not just as a consumer but as a “trusted chip supplier” to the global market. “Who can be a more trusted partner than the world’s largest democracy”, Modi said.

Part of this plan involves revamping engineering curricula to offer specialized courses focused on semiconductors in over 300 colleges across the nation, and foster a “semiconductor ecosystem” in the country.

‘Beyond Domestic Demand’

At the SemiconIndia Conference 2023, India aggressively demonstrated its proactive approach to semiconductor development. External Affairs Minister S. Jaishankar emphasized that India’s semiconductor mission extends beyond meeting domestic demand. The country instead aspires to be a significant global supplier in this crucial technology domain, with strategic collaborations with Quad partners—the U.S., Japan, and Australia.

Dr. Jaishankar’s assurance of India’s future self-reliance in semiconductor production reveals the nation’s ambitious spirit.

Praises from the Big Shots

India’s potential has already been recognized by Micron Technology, a prominent U.S. semiconductor giant. The company’s decision to set up its first chip manufacturing unit in Gujarat speaks volumes about India’s promise as a global semiconductor hub. This enthralling project is expected to create around 5,000 jobs. President and CEO of Micron Technology Shri Sanjay Mehrotra thanked Shri Narendra Modi for the global vision to turn India into an international semiconductor hub.

Moreover, while underlining the buffalo spirit of the Taiwan Semiconductor Industry, which is the ability to work hard without complaining, Chairman of Foxconn, Young Liu, said that the same spirit can be applied in India. Quoting the Prime Minister, Liu stated, “IT stands for India and Taiwan”.

The Semiconductor Powerhouse

India is taking strategic steps to reduce reliance on foreign suppliers and secure its place in the global semiconductor supply chain. As the world seeks to strengthen semiconductor supply chains, India’s emergence as a “trusted chip supplier” and its ambition to become a semiconductor powerhouse in Asia are poised to shape the industry’s landscape, unlocking new opportunities for technological growth and economic prosperity.

In Narendra Modi’s words the nation’s growing potential in the sector can be summed up with a simple line: “Over the past year, questions have shifted from ‘Why invest in India’ to ‘Why not invest in India'”.

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Last updated on: 23rd July 2024