Prime Minister Narendra Modi chairing the Semiconductor Executives roundtable, in New Delhi on September 10, 2024.
New Delhi: A day after the United States of America announced partnering with the India Semiconductor Mission under the International Technology Security and Innovation (ITSI) Fund of the US State Department, Prime Minister Narendra Modi chaired a semiconductor executives’ roundtable here today. He underscored that India could become a trusted partner in a diversified semiconductor supply chain, and assured the executives that the Indian government would follow a predictable and stable policy regime.
With the focus on Make In India and Make for the World, the Prime Minister said that the government will continue to support the industry at every step.
Also read: Why USA partners India to explore semiconductor ecosystem opportunities?
The meeting was attended by CEOs, Heads and representatives of various organisations including SEMI, Micron, NXP, PSMC, IMEC, Renesas, TEPL, Tokyo Electron Ltd, Tower, Synopsys, Cadence, Rapidus, Jacobs, JSR, Infineon, Advantest, Teradyne, Applied Materials, Lam Research, Merck, CG Power and Kaynes Technology. Also present in the meeting were Professors from Stanford University, University of California San Diego and IIT Bhubaneswar.
During the meeting, the Prime Minister said that their ideas will not only shape their business but also India’s future. Mentioning that the coming time will be technology-driven, he said semiconductor is the basis of the Digital Age “and the day is not far when the semiconductor industry will be the bedrock for even our basic necessities”.
Modi said that India’s focus is to develop globally competitive products. He highlighted that India is a great market for investing in hi-tech infrastructure and said the excitement shared by the leaders of the semiconductor sector today will motivate the government to work harder for this sector.
The Prime Minister emphasised that democracy and technology together can ensure the welfare of humanity and India is moving ahead on this path recognizing its global responsibility in the semiconductor sector.
He talked about India’s talent pool and the “immense focus” of the government on skilling to ensure that a trained workforce is available for the industry.
Speaking about the pillars of development which include developing social, digital and physical infrastructure, he mentioned giving a boost to inclusive development, reducing compliance burden and attracting investment in manufacturing and innovations.
The Prime Minister’s Office stated that the CEOs appreciated India’s commitment to the growth of the semiconductor sector and said that what transpired in today’s meeting was unprecedented wherein leaders of the entire semiconductor sector were brought under one roof.
The CEOs talked about the immense growth and future scope of the semiconductor industry. They said the centre of gravity of the semiconductor industry was starting to shift towards India, adding that the country now had a suitable environment for the industry which has put India on the global map in the semiconductor sector.
Expressing their belief that what is good for India will be good for the world, they said India has “amazing potential” to become a global powerhouse in raw materials in the semiconductor sector.
Appreciating the business-friendly environment in India, they said that in the world of complex geopolitical situations, India is stable. Mentioning their immense belief in India’s potential, they said there is unanimous consensus in the industry that India is the place to invest. They recalled the encouragement given by the Prime Minister in the past as well and said the “enormous” opportunities present in India today were never seen earlier and they are proud to partner with India.
– global bihari bureau
