The world's largest democracy will be a key player in Industry 4. 0 as it works to lay a solid foundation for a robust chip manufacturing and related ecosystem within the nation, according to Prime Minister Narendra Modi, who positioned India as a "trusted and reliable partner" to the global semiconductor industry.
Flanked by some of the top executives in the global semiconductor industry at the second edition of SemiconIndia, Modi said while an aspirational middle class is fuelling the demand for products built using chips, investment inflows are being led by the country’s ambitious $10-billion incentive scheme, a reliable energy supply, land, and fast-developing strength of skilled manpower and engineers. “All this shows that India is rolling out the red carpet for the semiconductor industry.”
The PM said the world today needs a “reliable and trusted” supply chain after facing the side-effects of the pandemic and the Russia-Ukraine war.
“India realises that a semiconductor is not just our necessity, the world, too, needs a trusted, reliable chip supply. Who can be a more trusted partner than the world’s largest democracy? Investors trust India as it has a stable, responsible and reform-oriented government.”
Modi said, “The industry has faith in India as infrastructure is developing in every sector. The tech sector believes in India as technology is growing here. The semiconductor industry trusts India as we have a massive talent pool.”
Chief Minister Bhupendra Patel noted the importance of Gujarat having the nation's first significant semiconductor manufacturing plant in reference to the Memorandum of Understanding that semiconductor manufacturer Micron Technologies signed with the Gujarat government. He voiced optimism that India would soon join the ranks of major global semiconductor players.
The Quad partners of India - Japan, USA and Australia - extended their support to India's semiconductor mission, assuring support ranging from providing critical minerals to training experts.