One of PM Modi’s vision has been to position India as a global hub for semiconductor design, manufacturing, and technology development. The Indian semiconductor ecosystem is set for significant growth, with projections estimating the market size to reach $150 billion by 2030.
SEMICON India 2024 was formally opened by Prime Minister Narendra Modi on Wednesday at the India Expo Mart in Greater Noida, Uttar Pradesh. The purpose of the September 11–13 event, “Shaping the Semiconductor Future,” is to draw attention to India’s aspirations in the semiconductor industry.
Prime Minister Narendra Modi inaugurated the SEMICON India 2024 on Wednesday at the India Expo Mart in Greater Noida in Uttar Pradesh. During his inaugural speech, PM Modi said ‘now’ is the best time to be in India.
He said, “In the 21st century in India, the chips are never down. The world can bet on India when the chips are down.”
Establishing India as a center for the design, production, and technological advancement of semiconductors has been one of Prime Minister Modi’s goals.
With more than 250 exhibitors and 150 presenters, the three-day event will highlight India’s semiconductor strategy and policies, which are designed to make the nation a global leader in semiconductor innovation.
Earlier this week, PM Modi gave an assurance that the Indian government would provide consistent and industry-supporting policies at a roundtable with semiconductor executives. Leading executives from Micron, NXP, PSMC, IMEC, and Renesas attended the meeting, which was centered on maintaining a stable regulatory environment and lowering compliance costs to draw in investment.
PM Modi emphasized that the Indian government is dedicated to fostering an environment that is favorable for the semiconductor industry by concentrating on important areas like lowering regulatory barriers and increasing investment. Additionally, in order to fulfill the expanding needs of the semiconductor industry, the government intends to improve the skill set of India’s labor population.
Based on forecasts, the Indian semiconductor ecosystem is expected to grow significantly, with a projected market value of $150 billion by 2030, according to Inc42. India’s potential as a dependable partner in a diverse semiconductor supply chain was emphasized by Prime Minister Modi, who also emphasized India’s commitment to producing goods that are competitive internationally.
Given India’s increasing stature in the global semiconductor industry, SEMICON India 2024 is an important milestone in achieving the nation’s goal of becoming a major force in this high-tech industry.