India Aims to Be a Reliable Partner in Semiconductor Supply Chain, Says PM Modi

Prime Minister Narendra Modi asserted that democracy and technology together can ensure humanity's welfare. He highlighted India's potential to become a reliable partner in a diversified semiconductor supply chain. Modi assured that the government will maintain a predictable and stable policy regime. This statement was made during the Semiconductor Executives Roundtable at his residence.

Representative image

India's Commitment to Semiconductor Sector

Modi emphasised that the future will be technology-driven, with semiconductors forming the foundation of the digital age. He stated, "The day is not far when the semiconductor industry will be the bedrock for even basic necessities." The Prime Minister also stressed India's global responsibility in this sector.

During the meeting, Modi discussed development pillars such as enhancing social, digital, and physical infrastructure. He also mentioned boosting inclusive development, reducing compliance burdens, and attracting investments in manufacturing and innovations. These steps are aimed at making India a key player in the semiconductor industry.

Focus on Skilling and Investment

Modi highlighted India's talent pool and the government's focus on skilling to ensure a trained workforce for the industry. He said India's goal is to develop globally competitive products. The Prime Minister also noted that India is an attractive market for investing in hi-tech infrastructure.

The CEOs present at the meeting appreciated India's commitment to the semiconductor sector's growth. They noted it is unprecedented that leaders from across the semiconductor industry have been brought together under one roof. They discussed the immense growth potential and future scope of the industry in India.

Global Recognition and Support

The executives expressed their belief that what benefits India will benefit the world. They said India has significant potential to become a global powerhouse in raw materials for semiconductors. They also praised India's business-friendly environment amidst complex geopolitical situations, noting that India remains stable.

The CEOs recalled past encouragement from Modi and acknowledged that opportunities in India today are unparalleled. They expressed pride in partnering with India, recognising its potential as a prime investment destination.

The meeting included CEOs, Heads, and representatives from various organisations 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. Professors from Stanford University, University of California San Diego and IIT Bhubaneswar were also present.

Modi assured leaders that with initiatives like Make In India and Make for the World, the government will support the industry at every step. The excitement shared by semiconductor sector leaders motivates the government to work harder for this sector.

The CEOs noted that India's environment is now suitable for the semiconductor industry. They said this shift has placed India on the global map in this sector. They unanimously agreed that India is an ideal place to invest due to its stable environment and immense potential.

India's focus on developing competitive products and skilling its workforce aligns with its ambition to become a trusted partner in the semiconductor supply chain. The Prime Minister's assurances of a stable policy regime further bolster confidence among industry leaders.

The roundtable discussion underscored India's commitment to becoming a significant player in the global semiconductor market. With continued support from both government and industry leaders, India aims to solidify its position as a key hub for semiconductor manufacturing and innovation.

The meeting concluded with a shared vision of India's potential to lead in the semiconductor sector globally. The collaboration between government initiatives and industry expertise is expected to drive substantial growth in this field.