Blitz Bureau
NEW DELHI: Prime Minister Narendra Modi on September 2 said that the world now trusts India and is ready to build the future of the semiconductor industry with it, adding that the government will soon launch next generation of reforms in the field of semiconductors. Inaugurating the ‘Semicon India 2025’ at the National Capital, PM Modi underlined India’s growing role in the global chip market and said the country is set to play a pivotal part in the trillion-dollar semiconductor sector.
“Investments of $18 billion are being made in 10 semiconductor projects approved since 2021,” said PM Modi. “The world trusts India, the world believes in India and the world is ready to build the semiconductor future with India,” the Prime Minister said, adding that while the last century was shaped by oil, the future will be shaped by chips. PM Modi pointed out that the global semiconductor market has already reached a value of $600 billion and will soon cross the $1 trillion mark, and India will play a major role in it.
“Our semiconductor industry is not limited to chip manufacturing, we are building such a semicon ecosystem that will make India globally competitive and Atmanirbhar,” PM Modi stressed. The design centres in Noida and Bengaluru are working to make some of the world’s most advanced chips. India is working on the challenges of the global semiconductor industry, he noted. PM Modi also highlighted India’s economic strength, noting that the country achieved 7.8 per cent growth in the April-June quarter despite global uncertainties.
