India Committed To Becoming A Global Leader In Semiconductor Production: PM Modi

Prime Minister Narendra Modi reiterated India’s commitment to becoming a global leader in semiconductor production during his Independence Day speech.

Speaking from the ramparts of the Red Fort, PM Modi said that the government is working to reduce dependency on imports and enhance technological self sufficiency.

The prime minister said that semiconductors are linked to the future. He said a lot of research for semiconductors takes place in India, and now the country will also produce chips. 

India will provide end-to-end semiconductor solutions to the world, PM Modi added.

Hailing the country’s indigenous design capabilities, Modi urged for designing in India for the world. 

“We should aim to design in the country for the world. The Indian standards should become international standards. The country has the necessary talent for achieving this goal,” he said.

It is pertinent to note that the government has undertaken a slew of initiatives to develop India’s semiconductor ecosystem to make the country self-reliant. The Semicon India programme has an outlay of INR 76,000 Cr to develop the semiconductor and display manufacturing ecosystem in the country. 

Earlier this year, the union cabinet also approved the country’s first semiconductor fab to be set up by the Tata Group, in partnership with Taiwan’s Powerchip Semiconductor Manufacturing Corp (PSMC), with a net investment of INR 91,000 Cr. The conglomerate’s semiconductor plant in Assam will be operational by mid-2025.

In his speech, PM Modi also called for transforming India into a global manufacturing hub by leveraging its vast resources and skilled workforce. 

“We should aspire to become the world’s manufacturing hub. For this, skill development is critical, for which we have undertaken many steps. Today, global companies want to invest in India, which has been evident in my meetings with global business leaders. I urge state governments to gain the trust of these investors by making investment prospects for them attractive, ensuring law and order, and good governance,” he said. 

It must be noted that finance minister Nirmala Sitharaman, in her Budget speech last month, announced a number of measures to promote manufacturing, including reduction in basic customs duty for inputs and raw material.

PM Modi also highlighted the increasing smartphone production in the country, saying India which was once an importer of phones is now exporting phones.

It must be highlighted that over the last few years, all major smartphone manufacturers, including Google, Samsung, Xiaomi, have started manufacturing their products in the country. Earlier this week, Google said that it has begun the production of flagship Pixel 8 smartphone in India.

On Wednesday, PM Modi also met Foxconn CEO and chairman Young Liu to discuss the electronics manufacturer’s investment plans in India.