New Delhi: Prime Minister Narendra Modi said on Tuesday that the world now trusts India and is ready to build the future of the semiconductor industry with the country. He further said that the government will soon launch next-generation reforms in the semiconductor sector. Inaugurating ‘Semicon India 2025’, Prime Minister Modi underlined India’s growing role in the global chip market and said that the country is ready to play an important role in the trillion-dollar semiconductor sector.
Prime Minister Modi said, $18 billion is being invested in 10 semiconductor projects approved since 2021. He further said, the world trusts India, the world believes in India and the world is ready to build the future of semiconductors with India. He further said that the last century was shaped by oil, but the future will be made of chips. Prime Minister Modi said that the global semiconductor market has already reached a value of $ 600 billion and will soon cross the $ 1 trillion mark and India will play a major role in it.
Prime Minister Modi said this big thing
Prime Minister Modi stressed, our semiconductor industry is not limited to chip manufacturing only, we are creating a semiconductor ecosystem that will make India globally competitive and self-reliant. The design centers in Noida and Bengaluru are working on making some of the most advanced chips in the world. He said that India is working on the challenges of the global semiconductor industry.
India performed better than every expectation and every assessment: PM Modi
The Prime Minister also highlighted India’s economic strength and said that despite global uncertainties, the country achieved a growth rate of 7.8 percent in the April-June quarter this year. Addressing the gathering, he said, just a few days ago, the GDP figures for the first quarter of this financial year have come. Once again, India has performed better than every expectation and every assessment. At a time when there are concerns in the world economy, there are challenges arising from economic selfishness, India has achieved a growth of 7.8 percent.
PM Modi said that this performance shows that India is on the right path to becoming a product nation. Union Electronics and IT Minister Ashwini Vaishnav also addressed the gathering and urged global companies to manufacture in India, saying that the country has laid a strong foundation for the semiconductor industry in just a few years. The theme of the three-day ‘Semicon India 2025’ conference being held from September 2 to 4 at Yashobhoomi is ‘Building the Next Semiconductor Powerhouse’.
The event is being jointly organised by India Semiconductor Mission (ISM) under the Ministry of Electronics and Information Technology and SEMI, the global semiconductor industry association. The event is being attended by over 20,750 participants, including over 2,500 delegates from 48 countries, over 150 speakers (50 global leaders) and over 350 exhibitors.