PM Modi Pitches India as Semiconductor Hub, Emphasizes Supply Chain Resilience
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PM Modi pitches India to chip makers, talks of supply chain resilience
Prime Minister Narendra Modi on Wednesday (September 11, 2024) said resilience of supply chains is critical for the economy as he made a pitch to boost investments in domestic manufacturing of semiconductors - the foundation of everything from smartphone to EV and AI. Speaking at the SEMICON 2024 conference on the outskirts of the national capital, the Prime Minister said the COVID pandemic showed the importance of the supply chain and underscored the need to act to ward off any disruption. "Resilience of the supply chain is very important," he said. "India is working to create the same in different sectors of the economy." The world witnessed supply shocks during COVID-19, as stringent measures to control the spread of pandemic in China affected the industries and sectors dependent on imports from that country. One of the sectors impacted was chips that form a critical part of every electronic device. Cabinet approves ₹3,300 crore for Kaynes Semicon plant in Gujarat Prime Minister showcased India's reformist regime, stable policies and a market that has tasted technology to make a strong pitch for investments in semiconductor manufacturing. "It is our dream to have an Indian-made chip in every device in the world," he said and added that "We will do everything that is needed to make India a semiconductor powerhouse." Talking of steps taken by his government to boost semiconductor manufacturing, he said a reformist government, a growing manufacturing base and an aspirational market that has tasted technology provide a 'Three-D Power' for chip making in the country. "Today's India inspires confidence in the world. When the chips are down, you can bet on India," he said. He said investment of over ₹1.5 lakh crore has already been committed in semiconductor manufacturing and many projects are in pipeline. Published - September 11, 2024 02:06 pm IST Read Comments
[2]
PM Modi pitches India to chip makers, talks of supply chain resilience
Greater Noida (UP), Sep 11 (PTI) Prime Minister Narendra Modi on Wednesday said resilience of supply chains is critical for the economy as he made a pitch to boost investments in domestic manufacturing of semiconductors -- the foundation of everything from smartphone to EV and AI. Speaking at the SEMICON 2024 conference on the outskirts of the national capital, the Prime Minister said the Covid pandemic showed the importance of the supply chain and underscored the need to act to ward off any disruption.
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Prime Minister Narendra Modi addresses global semiconductor industry leaders, highlighting India's potential as a chip manufacturing destination and the importance of supply chain resilience.
India's Semiconductor Ambitions
Prime Minister Narendra Modi has made a strong pitch for India as a key player in the global semiconductor industry, emphasizing the country's potential to become a major hub for chip manufacturing. Addressing industry leaders at the SemiconIndia 2023 conference in Gandhinagar, Gujarat, Modi outlined India's vision for the semiconductor sector and its role in ensuring supply chain resilience
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.Government Initiatives and Investments
Modi highlighted the Indian government's commitment to developing the semiconductor ecosystem, pointing to a comprehensive program with an investment of ₹76,000 crore (approximately $9.2 billion). This initiative aims to support various aspects of the semiconductor value chain, including chip design, manufacturing, packaging, and research
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.Focus on Supply Chain Resilience
A key theme in Modi's address was the importance of supply chain resilience in the semiconductor industry. He emphasized that the world is realizing the risks of relying on a limited number of manufacturing locations, indirectly referencing the global chip shortage experienced during the COVID-19 pandemic
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.India's Advantages in the Semiconductor Sector
The Prime Minister outlined several factors that make India an attractive destination for semiconductor manufacturing:
- Rapidly expanding market for digital devices
- Skilled workforce and strong design capabilities
- Improving ease of doing business
- Robust democracy and stable government policies
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Global Partnerships and Collaborations
Modi emphasized India's commitment to fostering international partnerships in the semiconductor industry. He mentioned ongoing collaborations with countries like the United States, as evidenced by agreements signed during his recent state visit
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.Future Outlook and Challenges
While the government's push for semiconductor manufacturing in India is ambitious, industry experts note that building a robust ecosystem will require sustained efforts and investments. Challenges include developing specialized infrastructure, nurturing talent, and competing with established manufacturing hubs in East Asia
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.As India positions itself as a potential semiconductor powerhouse, the success of these initiatives will depend on the country's ability to attract major players, foster innovation, and create a conducive environment for the industry's growth.
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