INSUBCONTINENT EXCLUSIVE:
GANDHINAGAR: Prime Minister Narendra Modi on Friday pitched India as a "trusted and reliable partner" to the global semiconductor industry,
arguing that the world's largest democracy will play a critical role in Industry 4.0 as it works on building a strong foundation to create
a robust chip manufacturing and allied ecosystem within the country.Flanked by some of the top executives in the global semiconductor
industry at the second edition of SemiconIndia, Modi said while an aspirational middle class is fuelling the demand for products built using
chips, investment inflows are being led by the country's ambitious $10-billion incentive scheme, a reliable energy supply, land, and
fast-developing strength of skilled manpower and engineers.Skilled engineers, designers are India's strength, says PMThe PM said the world
today needs a "reliable and trusted" supply chain after facing the side-effects of the pandemic and the Russia-Ukraine war
"India realises that a semiconductor is not just our necessity, the world, too, needs a trusted, reliable chip supply
Who can be a more trusted partner than the world's largest democracy? Investors trust India as it has a stable, responsible and
reform-oriented government
The industry has faith in India as infrastructure is developing in every sector
The tech sector believes in India as technology is growing here
The semiconductor industry trusts India as we have a massive talent pool."The government is seeking to create an ecosystem for international
chipmakers and electronics players at a time when they are looking to diversify their manufacturing bases beyond China, which caused massive
disruption following the Covid outbreak, affecting production of mobile phones and automobiles
The idea is also to reduce import dependence in these segments, where shipments are rising
Apart from a large domestic market, the government is also positioning India as a base for exports.Modi said skilled engineers and designers
are India's strength in its quest for semiconductor investments
"Anyone who wants to be a part of the world's most vibrant and unified market has faith in India
When we tell you to make in India, it also includes 'let's make for India, make for the world'."The PM told the companies that India
understands the need of a global supply chain, raw materials, trained manpower and machinery
"Any sector in which we have worked closely with private players has touched new heights, be it the space sector or geospatial sector, we
have got excellent results everywhere."Giving the analogy of a conductor and insulator where energy can pass through conductors and not
through insulators, Modi said that India is ticking every checkbox to become "an excellent conductor for semiconductor
investments".Referring to Moore's Law which has exponential growth at its heart, he said that India is witnessing the same phenomenon when
it comes to digital and electronic manufacturing
"India's share in global electronic manufacturing has increased manifold
In 2014, India's electronic manufacturing was less than $30 billion, which has crossed $100 billion now
The export of electronics and mobile devices has doubled in the last two years
time to shine: Semiconductor Products President at Semicon India Prabu Raja
