Prime Minister Narendra Modi emphasised the critical role of resilient supply chains in the economy while promoting investments in domestic semiconductor manufacturing at the SEMICON 2024 conference near New Delhi. Highlighting the lessons learned from the Covid-19 pandemic and geopolitical disruptions, Modi stressed the urgent need to strengthen supply chains across industries, particularly in semiconductors, which are essential for devices from smartphones to electric vehicles.
“Whether it was Covid or war, no industry has been spared from supply chain disruptions,” Modi stated, underscoring India’s commitment to bolstering supply chain resilience. He pointed out that the pandemic exposed vulnerabilities, such as factory shutdowns in China and halted flights, which severely affected global chip supplies.
Modi showcased India’s efforts to attract investments through stable policies and a technology-driven market, positioning the country as a global semiconductor hub. “In 21st-century India, the chips are never down,” Modi said, adding that the government’s Rs 76,000 crore program to lure chipmakers has already attracted investments worth Rs 1.5 lakh crore.
Major projects include Tata’s partnership with Taiwan’s Powerchip Semiconductor to set up India’s first chipmaking plant in Gujarat, and investments by Tata Semiconductor Assembly and Test Pvt Ltd in Assam. Other significant investments include Micron Technology’s Rs 22,516 crore assembly facility in Gujarat, Adani Group’s chip plant in Maharashtra with Israel’s Tower Semiconductor, and CG Power’s collaboration with Japan’s Renesas Electronics for a chip packaging plant.
Modi concluded by highlighting India’s growing semiconductor workforce of 85,000 technicians and engineers, stating, “When the chips are down, you can bet on India.” He asserted that India’s evolving semiconductor industry will drive global confidence and transform the sector.
