Modi Unveils Plans for Semiconductor Manufacturing Expansion

At the SEMICON India 2024 conference, Prime Minister Narendra Modi emphasized the critical importance of resilient supply chains, particularly in semiconductor manufacturing, to bolster India's economy. He articulated a vision for 'Made in India' chips in every device globally, supported by an investment commitment of ₹1.5 trillion aimed at developing a robust semiconductor ecosystem. Modi noted that India's proactive policies have already attracted substantial investments exceeding ₹1.5 trillion, and the government is providing 50% financial support for setting up manufacturing facilities. He highlighted the need to prepare a skilled workforce, announcing plans to train 85,000 technicians and engineers to support this sector. Modi's ambition is to transform India into a semiconductor powerhouse, ensuring that chips are never down in the country and that manufacturing is fully localized. This initiative aims not only to meet domestic needs but also to fulfill global demand for semiconductor technology.