India can become a trusted partner in the diversified semiconductor supply chain globally, and the government will follow a predictable and stable policy regime, said Prime Minister Narendra Modi on Tuesday.
Chairing the Semiconductor Executives' Roundtable at his residence in the national capital on the eve of the three-day 'Semicon India 2024' event, PM Modi said: "The semiconductor is the basis of the Digital Age. And the day is not far when it will be the bedrock for even our basic necessities.".
The focus is on developing products that would be competitive at the global level," PM Modi told attending CEOs of some major chip companies, while adding that India is an excellent market for hi-tech infrastructure investment; "and the excitement shared today by the leaders of the semiconductor sector would motivate the government to work harder for this sector.".
It is attended by the CEOs and representatives of organizations such as 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.
The Prime Minister emphasized that democracy and technology together can guarantee the well-being of humanity, and India is marching forward on this path, realizing its global responsibility in the semiconductor sector.
There are currently five semiconductor manufacturing proposals, and the total combined investment is nearing Rs 1.52 lakh crore.
He further underscored that India has the capability to become a trusted partner in a diversified semiconductor supply chain. With the focus on 'Make In India' and 'Make for the World' initiatives, the Prime Minister said the government will continue to support the industry at every step.
CEOs appreciated the Indian government's commitment towards the growth of the semiconductor sector and said that what has happened today is unparalleled wherein leaders of the whole semiconductor sector have been brought under one roof. They said the centre of gravity of the semiconductor industry is starting to shift towards India, adding that the country now has a suitable environment for the industry which has put India on the global map in the semiconductor sector.
During the three-day 'Semicon India 2024' starting from September 11 in Greater Noida, more than 250 companies from 24 countries are expected to attend, depicting the growing presence of the country in this critical sector.
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