India reliable & prepared destination to meet new global manufacturing challenges, says PM Modi
New Delhi, September 17
Prime Minister Narendra Modi today stated that India is taking every step needed to become a preferred destination for the semiconductor industry.
Inaugurating SEMICON India 2026 at Yashobhoomi in New Delhi today, Mr Modi said the world is looking for new and trusted manufacturing destinations and India is steadily preparing itself to meet this need. Mr Modi highlighted that India’s semiconductor ecosystem is expanding rapidly and opening new opportunities for innovation, investment and growth.. He discussed how the explosive demand for Artificial Intelligence is shifting the focus from mere transistor size to holistic system integration, including memory placement and heat management.
Mr Modi said that on one side India’s economy is growing and the other side, global trust in India is also growing. He said, despite the challenging global environment, India recorded a growth rate of 7.8 per cent. Prime Minister said, at the same time, Japan’s credit rating agency also upgraded India’s sovereign rating. Mr Modi said, every citizen of the country is working with a commitment to build a developed India. Prime Minister said, India’s semiconductor ecosystem is expanding rapidly and it is is opening new opportunities for innovation, investment and growth.
Prime Minister Modi said, India Semiconductor Mission 2.0 expanded outlay to 13.5 billion US dollar from eight billion US dollar in the first phase. He highlighted that so far 12 chip making projects have been approved in the next phase it will further increase.
In his address, the Prime Minister also mentioned about recently held BRICS Summit in New Delhi. He said, India successfully hosted the summit in which New Delhi Declaration was adopted with consensus of every member country.Mr Modi said, it is another major testament to the world’s trust in India.
He said, young talents who are researching in India should come forward. Mr Modi said, the youth who are researching abroad should also join the development of advanced technologies in India. He urged industry leaders to spearhead Research and Development in the country. He added that this will be mutually beneficial, driving industry growth while empowering India’s youth.
On the occasion, Union Minister of Electronics and IT Ashwini Vaishnaw said that India had wanted to establish a semiconductor industry for several decades, but it was possible only under the leadership of Prime Minister Narendra Modi. He said, the foundation has now been laid and the next step is to build the industry through Semicon 2.0, which focuses on six major pillars. This include semiconductor design, machines and materials, memory, silicon, compound and logic fabrication units and research and development. He said, the government has set a target to support at least 200 startups and companies to design chips in India across the spectrum of semiconductor requirements.
Minister of State for Electronics and IT Jitin Prasada, Secretary S Krishnan, officials, delegations were present on the occasion.
The SEMICON India 2026 event has brought together over 600 exhibitors, 300 international companies, and delegations from more than 50 countries. The exhibition features six country pavilions representing Japan, South Korea, Malaysia, Netherlands, Singapore and Sweden, twelve State Government pavilions, and a dedicated Startup Pavilion.The conference and exhibition, being held from today is being organised on the theme Silicon to Systems: Building the Ecosystem. It has brought together global and Indian companies, policymakers, investors, researchers, start-ups, academic institutions and students from across the semiconductor and electronics value chain.