This is right time to be in India, PM Modi tells global semiconductor leaders

New Delhi: Prime Minister Narendra Modi on Wednesday said this is the right time and place to be in India when it comes to semiconductor manufacturing, as the country provides an integrated ecosystem for the global players, along with ease of doing business and a large talent pool.

Speaking to a packed house at the ‘Semicon India 2024’ event in Greater Noida in the presence of key industry stakeholders, PM Modi said "Chips are never down in India" and you can bet on our growth story.

“Come, invest and create value and we will provide an integrated ecosystem for your growth. India has 20 per cent of the global talent in semiconductor design which is consistently growing. We are building an 85,000-strong semiconductor workforce with technicians, R&D experts and designers,” said the Prime Minister.

PM Modi mentioned the Rs 1 lakh crore ‘Anusandhan fund’ that is aimed at supporting basic research and prototype development, including in the field of semiconductors, spurring private sector-driven research and innovation on a commercial scale.

“India provides a reformist government, a growing manufacturing base and an aspirational tech-oriented market,” PM Modi told the gathering.

The government has committed to developing a strong talent pool of 85,000 engineers and technicians. More than 113 universities, academic institutions and R&D organisations have been tied up towards this cause.

PM Modi also visited the exhibition area and interacted with companies on their progress with their semiconductor solutions.

On Tuesday, top CEOs of semiconductor companies hailed PM Modi’s leadership, saying he has inspired not just India but the entire world.

Top CEOs and representatives of various organisations met PM Modi at his official residence in the national capital, including SEMI, Micron, NXP, PSMC, IMEC, Renesas, TEPL, Tokyo Electron Ltd, Tower, Synopsys, Cadence, Rapidus, Jacobs, JSR, Infineon, Advantest, Teradyne, Applied Materials, Lam Research, Merck, CG Power, and Kaynes Technology.