India will soon start commercial production of semiconductors and related products, becoming a global powerhouse in the sector, said Prime Minister Narendra Modi as he laid the foundation stone for three new semiconductor plants on Wednesday.
“Today, we are creating history by taking a leap towards a bright future. We have inaugurated three major projects for semiconductor manufacturing in India worth around Rs 1.25 lakh crore. These projects will help India become a global hub in semiconductor manufacturing,” PM Modi said.
Reiterating the need for self-reliance, PM Modi said that the “Made in India” and “Designed in India” chips are crucial steps towards achieving that goal.
After the disruptions caused by the Covid pandemic, the tech industry needs reliable and resilient supply chains. India will soon fill that gap by manufacturing chips on a commercial basis, PM Modi said.
“India is already a tech-space, a nuclear power and a digital power. We will soon start commercial production of semiconductors and related products,” he said.
As part of its “Atmanirbhar Bharat” and “Make in India” initiatives, the government has launched production incentive (PLI) schemes for various sectors, including electronics. The PLI schemes will make Indian manufacturers globally competitive, attract investments, enhance exports, reduce dependency on imports, and integrate India into the global supply chain.
Union Minister for Information and Technology, Ashwini Vaishnaw, said India has been striving to set up a semiconductor ecosystem since 1960s, and it is only now that it has earned success. He expressed confidence that Made in India semiconductors will soon be utilized by companies worldwide.
Natarajan Chandrasekaran, Chairman of TATA Sons, said that semiconductors are a foundational industry for digital products, similar to how steel is fundamental for physical infrastructure.
Chip shortages experienced during the Covid-19 pandemic highlighted the necessity for indigenous manufacturing, which not only also enhances national security but also promotes innovation, he added.