Prime Minister Narendra Modi on Wednesday inaugurated the SEMICON India 2024 at the India Expo Mart in Uttar Pradesh’s Greater Noida. Speaking on the occasion, he said this is the right time to be in India as the government here offers stable policies and ease of doing business on investments.
“I can say that this is the right time to be in India. You are at the right place at the right time. In the India of the 21st century, the chips are never down. Today’s India makes the world believe that when the chips are down, you can bet on India,” the prime minister said.
India will do whatever it takes to become a semiconductor powerhouse, he said adding that this is an era of silicon diplomacy. The country is also targeting a $500-billion size for the electronics sector by the end of the decade from the current $150 billion.
Stating that a total investment of over Rs 1.5 lakh crore has been committed for semiconductor manufacturing and many projects are in pipelines, PM Modi said, “Our dream is to have Indian-made chip in every device in the world.”
SEMICON India 2024 is being organised from September 11 to 13 with the theme “Shaping the Semiconductor Future”.
What is Semicon India 2024?
The three-day conference will showcase India’s semiconductor strategy and policy which envisions making India a global hub for semiconductors.
It will witness the participation of top leadership of global semiconductor giants and will bring together global leaders, companies, and experts from the semiconductor industry.
The conference will witness participation of more than 250 exhibitors and 150 speakers.
According to a Bloomberg report, Larsen & Toubro Ltd plans to invest more than $300 million to create a chip company, joining other Indian conglomerates in a push to build out a semiconductor industry in the world’s most populous country.
Meanwhile, on Tuesday, Prime Minister Narendra Modi said India has the capability to become a trusted partner in a diversified semiconductor supply chain and assured that the government will follow a predictable and stable policy regime.
Prime Minister Modi said this while chairing the Semiconductor Executives’ Roundtable at his residence – 7, Lok Kalyan Marg. During the meeting, he said that their ideas will not only shape their business but also India’s future, according to a statement issued by the Prime Minister’s Office.
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Source: NEWS18
