Prime Minister Narendra Modi inaugurated SEMICON India 2024 at India Expo Mart in Greater Noida, Uttar Pradesh today. Modi took a walkthrough of the exhibition showcased on the occasion. The three-day conference from 11 to 13th September will showcase India’s semiconductor strategy and policy which envisions making India a global hub for semiconductors.

Addressing the gathering, Modi said that India is the eighth country in the world to organize an event related to the global semiconductor industry. “This is the right time to be in India. You are at the right place at the right time”, Modi emphasized, “In 21st-century India, the chips are never down.” He further added that the India of today assures the world, “When the chips are down, you can bet on India.”

Highlighting the connection between the semiconductor industry and a diode where energy traverses only in one direction, Modi said that India’s semiconductor industry is equipped with special diodes where energy flows in both directions. He explained that while industries invest and create value, the government on the other hand provides stable policies and Ease of Doing Business. Modi said that India is creating a semiconductor workforce of 85,000 technicians, engineers and R&D experts.

“India is focused on making its students and professionals industry ready”, the Prime Minister remarked, recalling the first meeting of the Anusandhan National Research Foundation which aims to give new direction and energy to India’s research ecosystem. He also mentioned a special research fund of Rs 1 trillion.

Highlighting the uniqueness of India’s aspirational and tech-oriented society, the Prime Minister said that the meaning of chips in India is not just limited to technology but is a medium to fulfill the aspirations of crores of citizens. Underlining that India is a huge consumer of such chips, PM Modi emphasized that the world’s finest digital public infrastructure was built upon it. “This small chip is doing big things to ensure last-mile delivery in India”, PM Modi said.

Modi also discussed the government’s focus on securing critical minerals needed for the semiconductor industry and mentioned the recently announced Critical Mineral Mission to boost domestic production and overseas acquisition. He underlined that India is working rapidly on customs duty exemptions and mining auctions for critical minerals.

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. Talking about international collaborations the Prime Minister recalled ‘Oil Diplomacy’ and said that the world today is moving forward to an era of ‘Silicon Diplomacy.’ 

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. 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 added.

With India’s electronics sector now valued at over $150 billion, Modi outlined a larger goal to grow the country’s electronics sector to $500 billion and create 6 million jobs by the end of this decade. 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”, he added.

Modi emphasized, “India’s semiconductor ecosystem is a solution not just for India’s challenges but also for global challenges”. Drawing from the field of design, the Prime Minister referenced a metaphor—‘single point of failure’ and explained that design students are taught to avoid this flaw mainly due to the system's dependence on just one component. He added that this principle applies equally to supply chains. “Whether it was Covid or war, there hasn’t been a single industry to remain unaffected by supply chain disruptions,” he remarked. Stressing the importance of a resilient supply chain, the Prime Minister expressed pride in India’s central role in building resilience across sectors, positioning the country as a key player in the global mission to safeguard supply chains.

Chief Minister of Uttar Pradesh, Yogi Adityanath, Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, Union Minister of State for Electronics and Information Technology, Jitin Prasad, President and CEO of SEMI, Ajit Manocha, President and CEO of Tata Electronics, Dr Randhir Thakur, CEO of NXP Semiconductors, Kurt Sievers, CEO of Renesas, Hidetoshi Shibata and CEO of IMEC, Mr Luc Van Den Hove were present on the occasion among others.