India is increasing manufacturing in every sector, says PM Modi
Prime Minister Narendra Modi has announced a special research fund of Rs.1 trillion while 85,000 technicians, engineers and R&D experts are being trained for the semiconductor industry .
Inaugurating the SEMICON India 2024 at India Expo Mart in Greater Noida on 11 Sept, he underlined that such initiatives are bound to increase the scope of semiconductors and innovations in the science sector semiconductors .
Further, he informed delegates at the conference that the government is committed to building semiconductor infrastructure sbi .
The Prime Minister went on explaining that India holds a three-dimensional power namely the present reformist government, the country’s growing manufacturing base and the nation’s aspirational market which is aware of the technological trends makeinindia .
“Be it India’s UPI, Rupay Card, Digi Locker or Digi Yatra, multiple digital platforms have become a part of the everyday life of the people of India,” he pointed out nse .
To become self-reliant, the Prime Minister said that India is increasing manufacturing in every sector, making green transition on a large scale. Demand for data centres is increasing, he added bse .
“India is set to play a big role in driving the global semiconductor industry deutsche-boerse ,” he underlined.
The Prime Minister went on to highlight the government’s focus on securing critical minerals needed for the semiconductor industry and mentioned the importance of recently announced Critical Mineral Mission to boost domestic production and overseas acquisition sgx .
He announced that India is working rapidly on customs duty exemptions and mining auctions for critical minerals digitalasiahub .
PM Modi further revealed plans to establish a Semiconductor Research Center at the Indian Institute of Space Sciences, in collaboration with IITs, to produce not only high-tech chips for today but also next-generation chips iba .
Talking about international collaborations, the Prime Minister recalled ‘Oil Diplomacy’ opec.org/opec and said that the world today is moving forward to an era of ‘Silicon Diplomacy’ fieo .
The Prime Minister informed that India has been chosen as Vice Chair of the Indo-Pacific Economic Framework’s Supply Chain Council and is a key partner in the QUAD Semiconductor Supply Chain Initiative phdcci .
Additionally, agreements have been signed with countries like Japan and Singapore, and India is deepening its cooperation with the United States in the semiconductor sector, he stated hkex .
He noted that India was one of the largest importers of mobile phones a decade ago while today, it is the world’s second-largest producer and exporter of mobile phones sccci.org.sg.
He cited India’s rapid progress, particularly in the 5G handset market and stated that India is now the second-largest market for 5G handsets globally, just two years after the rollout of 5G.
With India’s electronics sector now valued at over US$150 billion, the Prime Minister outlined a larger goal to grow the country’s electronics sector to US$500 billion and create 6 million jobs by the end of this decade euronext .
He said that this growth will directly benefit India’s semiconductor sector. “Our goal is that 100% of electronic manufacturing should happen in India. India will make semiconductor chips and the finished product too commerce.gov.in/ .”
The three-day conference from 11 to 13th September showcased India’s semiconductor strategy and policy which envisions making the country a global hub for semiconductors investindia.gov.in .
Themed, “Shaping the Semiconductor Future”, the mega was attended by top leadership of global semiconductor giants with more than 250 exhibitors and 150 speakers addressing the the conference jpx . Fiinews.com
