According to reports, Prime Minister Narendra Modi inaugurated Semicon India 2023 today and expressed India's potential to become a reliable chip supplier on the global stage. He emphasized India's role as a major player in the semiconductor sector and stated that the country is well-equipped to support and contribute to the industry's growth worldwide. The conference, which marks the second edition, has attracted leaders from various global companies and startups within the semiconductor industry, all gathering in Gujarat for the event.

The prime minister highlighted the progress made since the first conference in 2022, with India witnessing the entry of numerous new products, technologies, and talented individuals into its semiconductor industry, resulting in significant growth and advancements. With this growing momentum, India aims to establish itself as a key player in the semiconductor market, capable of serving as a vital conductor for the industry's global success.

"Last year, we all took part in Semicon India's first edition. Back then, the discussion was on, 'Why invest in India?' Now that we are meeting after a year, the question has changed to, 'Why not invest in India?" Modi said.

Prime Minister Modi emphasized that India holds a significant role in the global semiconductor industry, with its future aspirations driving further development. He highlighted the rapid reduction of extreme poverty in the country and the widespread availability of affordable data, which is reaching even the remote villages across the nation.

"India realises that semiconductors isn't just ours, but the need of the world," PM Modi said.

The world needs a trusted supplier of chips and who better than India, the prime minister declared. The nation is focused on building a chip-making ecosystem with the backing of a "stable, responsible and reform-oriented government," Modi added.

Addressing potential investors in the audience, Modi said, "You have attached your dreams with India's aspirations and India doesn't disappoint anyone."

To back his claim, Modi pointed out three benefits that India provides: its democracy, its demography and its dividend; all three of which can "double-triple your businesses," he said.

To further incentivise investors, PM Modi pointed out that India has one of the lowest corporate taxes and has made its taxation process faceless and seamless. The government has provided special incentives to the semiconductor industry, giving stakeholders a "red-carpet welcome," Modi said.

PM Modi said the nation is experiencing exponential growth in its digital and electronic manufacturing sector, with its share in the global electronic manufacturing sector surging significantly from $30 billion to over $100 billion.

Representatives from prominent companies, including Micron Technology, Applied Materials, Foxconn, SEMI, Cadence, and AMD, were present at the Semicon India 2023 conference. During his speech, Prime Minister Modi highlighted the National Quantum Mission, recently approved by the government, which will introduce semiconductor courses in over 300 colleges.

With the theme "Catalysing India’s Semiconductor Ecosystem," the conference aims to gather leaders from the industry, academia, and research institutions to showcase India's semiconductor strategy and policy. India, under the leadership of Prime Minister Modi, envisions becoming a global hub for semiconductor design, manufacturing, and technology development.

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