Prime Minister Narendra Modi addressing the Semicon 2024 conference in Greater Noida on Wednesday.
Prime Minister Narendra Modi said on Wednesday that it is our dream that every device in the world should have a chip made in India. We will make every effort to make India a semiconductor powerhouse. Modi advocated promoting investment in domestic manufacturing of semiconductors – which are the basis of everything from smartphones to EVs and AI. The PM said that the flexibility of the supply chain is important for the economy. The Prime Minister said this at the Semicon 2024 conference in Greater Noida, adjoining Delhi.
Emphasis on supply chain
According to the news, the Prime Minister said that the Covid pandemic showed the importance of supply chains and underlined the need to act to overcome any disruptions. Supply chain resilience is very important. India is working to build it across various sectors of the economy. The world witnessed supply shocks during Covid-19, as stringent measures to control the spread of the pandemic in China affected industries and sectors dependent on imports from that country. One of the sectors affected was the chip which is a vital part of every electronic device.
The aim is to provide ‘three-dimensional power’ for chip manufacturing
The Prime Minister showcased India’s reformist governance, stable policies and an ambitious market that has tasted technology to make a strong pitch for investments in semiconductor manufacturing. Elaborating on the steps taken by his government to boost semiconductor manufacturing, he said a reformist government, a growing manufacturing base and an ambitious market that has tasted technology provide the ‘3-D power’ for chip manufacturing in the country.
You can bet on India in trouble
The PM said that today’s India inspires confidence in the world. When difficulties arise, you can bet on India. He said that more than Rs 1.5 lakh crore has already been invested in semiconductor manufacturing and many projects are in the pipeline. On the electronics sector, Modi said that India’s goal is to have all electronics manufacturing work in India. Modi said that today India’s electronics sector is more than $ 150 billion. By the end of this decade, we want to take our electronics sector to more than $ 500 billion. This can create 60 lakh jobs.
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