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Greater Noida, September 11 (HS). Prime Minister Narendra Modi on Wednesday inaugurated Semicon India 2024 at India Expo Mart in Greater Noida, Uttar Pradesh. On this occasion, Prime Minister Modi said that we are focusing a lot on the infrastructure related to semiconductors. For India, chip does not mean just technology, for us it is a medium to fulfill millions of aspirations. India's focus is on making its students and professionals semiconductor industry ready.
Prime Minister Modi said that due to India's policies, investments of more than Rs 1.5 trillion have been made in this sector in India in a very short time. India is working with a 360 degree approach in this sector. Our government is taking forward the entire semiconductor supply chain ecosystem in India. Quoting his address from the ramparts of the Red Fort on Independence Day this year, the Prime Minister said that our dream is that every device in the world should have an Indian made chip. India is going to do whatever is necessary to become a semiconductor powerhouse. India's semiconductor ecosystem will provide solutions not only to India but also to global challenges. Earlier, Prime Minister Modi also visited the exhibition. During this, he was given information about various semiconductor based devices and innovations.
you are in the right place at the right time
While beginning his address, Prime Minister Modi said that India is the 8th country in the world where this grand event related to the global semiconductor industry is being held. I can say that you are at the right place at the right time. In 21st century India, the chips are never down and not only this, today's India assures the world that when the chips are down, you can bet on India. Modi said that those of you associated with the world of semiconductors are definitely related to diodes. Energy in a diode goes in only one direction but special diodes are installed in India's semiconductor industry. Here our energy goes in both directions. This is also very interesting. You invest and create value, while the government gives you stable policy and ease of doing business. The semiconductor industry is related to integrated circuits. India also gives you an integrated ecosystem.
Will make students and professionals semiconductor industry ready
Narendra Modi said that you are well aware of India's designers and their tremendous talent. India contributes 20 percent talent in the world of designing and it is continuously expanding. We are preparing a semiconductor workforce of 85 thousand technicians, engineers and R&D experts. India's focus is on making its students and professionals semiconductor industry ready. Recently, the first meeting of the National Research Foundation was held. This foundation will give a new direction and new energy to India's research ecosystem. Apart from this, a special research fund of one trillion rupees has also been created in India. With such initiatives, the scope of innovation in the semiconductor and science sector is going to increase a lot.
This small chip is playing a big role in ensuring last mile delivery in India
On the policies of the Government of India regarding semiconductors and the convenience of investors, the Prime Minister said that you also have a three-dimensional power. First, today's reformist government of India. Second, the growing manufacturing base in India and third, India's aspirational market. A market that knows the taste of technology. He said that India's aspirational and tech-oriented society is very unique. For India, chip does not mean just technology, for us it is a medium to fulfill crores of aspirations. Today India is a huge consumer of chips. On this chip, we have built the world's best digital public infrastructure. Today this small chip is being very useful in ensuring last mile delivery in India. In a great crisis like Corona, when even the strongest banking systems of the world collapsed, then banks in India were running without stopping. Be it India's UPI, Rupay Card, DigiLocker to DigiYatra, different types of digital platforms have become a part of the daily life of the people of India. Today, India is increasing manufacturing in every sector to become self-reliant. Today, India is doing green transition on a large scale. Today, the demand for data centers in India is continuously increasing, which means India is going to play a big role in driving the global semiconductor industry.
Work is being done in India with a 360 degree approach
Prime Minister Modi said that there is an old saying 'Take the chip fall where it may' which means that whatever is going on should be allowed to continue as it is. Today's young and aspirational India does not follow this sentiment. The mantra of today's India is increasing the numbers of chips produced in India and hence we have taken many steps to promote semiconductor manufacturing. The Government of India is providing 50 percent support for setting up semiconductor manufacturing facilities in India. Our state governments are also helping at their level. Due to India's policies, investments worth more than Rs 1.5 trillion have been made in this sector in India in a very short time. Today many projects are in the pipeline. The Semicon India program is also a wonderful scheme. Under this, financial support is being provided for front end fabs, display fabs, semiconductor packaging, compound semiconductors, sensors and display manufacturing. That is, work is being done in India with a 360 degree approach. Our government is taking forward the entire semiconductor supply chain ecosystem in India. This year, we said from the Red Fort that our dream is that every device in the world should have an Indian made chip. India is going to do whatever is necessary to become a semiconductor powerhouse.
Today's era is the era of silicon diplomacy
Regarding critical minerals, the Prime Minister said that we have announced the Critical Mineral Mission a few days ago for the domestic production of critical minerals and its overseas acquisition. Be it exemption of custom duty on critical minerals, auction of blocks, mining, all these are being worked on rapidly. Not only this, we are also working on setting up a semiconductor research center in the Indian Institute of Space Science. We are partnering with IIT, so that our engineers not only make high-tech chips for now but also do research on next gen chips. We are also taking forward international collaboration. He said that you people have heard the name of oil diplomacy, today's era is the era of silicon diplomacy. This year India has been elected as the Vice Chair of the Supply Chain Council of the Indo Pacific Economic Framework. We are also a big partner of the Quad Semiconductor Supply Chain Initiative. Recently we have also signed agreements with many countries including Japan and Singapore. India is also continuously increasing its cooperation with America in this sector.
India will also manufacture semiconductor chips and their finished goods
The Prime Minister said that the aim of the Digital India Mission was to provide the country with a transparent, effective and leakage-free governance and today we are realizing its multiplier effect. A decade ago, we were one of the largest importers of mobile phones and today we are the world's number 2 producer and exporter. A recent report has come that today India has become the second largest market for 5G handsets. We started the 5G rollout only two years ago and today see where we have reached. Today India's electronic sector is more than $ 150 billion and now our target is even bigger. By the end of this decade, we want to take our electronic sector to $ 500 billion. This will create about 6 million i.e. 60 lakh jobs for the youth of India. India's semiconductor sector will also benefit greatly from this. Our goal is that 100% of electronic manufacturing should be done in India, meaning India will make semiconductor chips as well as their finished goods. Be it mobile manufacturing, electronics manufacturing or semiconductors, our focus is very clear. We want to create a world that does not stop or halt even in times of crisis, but keeps moving.
On this occasion, Chief Minister Yogi Adityanath, Union Ministers Ashwani Vaishnav, Jitin Prasad, MP Mahesh Sharma, BJP State President Bhupendra Chaudhary, global leaders, CEOs and experts from the semiconductor industry from across the world were present.