SEMICON INDIA 2024: Our dream is to have an India-made chip in every device in the world: PM Modi

PM Modi at SEMICON India 2024: The Indian government hosted its first SEMICON India conference today. While inaugurating the event in Noida today Prime Minister Narendra Modi said that the Indian government had announced several initiatives to advance semiconductor manufacturing in the country.

"Semicon India is one of the programs that the government is driving to advance semiconductor manufacturing in the country," PM Modi said at SEMICON India 2024 conference today while highlighting that companies from across the globe have investments of more than Rs 1.5 trillion in India in the field of electronic manufacturing so far.

On increasing semiconductor manufacturing in India

While addressing the SEMICON India 2024 conference today, PM Modi highlighted the steps taken by the Indian government to advance semiconductor manufacturing in the country. "The Indian government today is providing 50 percent support for setting up a semiconductor manufacturing plant in India," PM Modi said.

"India will play a key role in driving the global semiconductor industry...Our dream is to have an India-made chip in every device in the world," he added.

In addition to this, PM Modi said that India has setup a fund of Rs 1 trillion to support the research and development in the field of semiconductors and science. "India contributes around 21 percent in semiconductor designing industry globally," PM Modi said today.

"We are readying a workforce of 80,000 semiconductor ready engineers across the country," he added.

On electronic manufacturing in India

Addressing the gathering today, the Prime Minister noted that India had become the second biggest market of 5G smartphones in world in just two years of the roll out 5G connectivity. He also shared that India's electronic sector was worth more than $150 billion.

"By the end of this decade, we aim to enable India's electronic sector to cross the $500 billion mark. This will create 60 lakh jobs in India," PM Modi said.

"We aim that 100 percent of the world's electronic manufacturing takes place in India," he added.