GREATER NOIDA - Prime Minister Narendra Modi on Wednesday called for encouraging investment in domestic manufacturing of semiconductors, saying supply chain flexibility is crucial for the economy. Semiconductors are the basis of everything from smartphones to electric vehicles and artificial intelligence (AI), Modi said. Speaking at the Semicon 2024 conference on the outskirts of the national capital, Prime Minister Modi said the Covid-19 pandemic has highlighted the importance of the supply chain.
He stressed the need to take steps to prevent any such disruption. "Supply chain resilience is very important," he said. India is working to build it in various sectors of the economy. The world saw supply shocks during the Covid-19 pandemic, as China The drastic measures taken to contain the spread of the epidemic have affected the country's import-dependent industries and sectors.
Chief among the affected areas was the chip, which is a vital part of every electronic device. The Prime Minister also spoke about India's reformist government, stable policies and market, which has embraced technology to create a strong base for investment in semiconductor manufacturing. "Our dream is that every device in the world has a chip made in India," he said. "We will make every effort to make India a superpower in the semiconductor sector," the Prime Minister said.
Discussing the steps taken by his government to boost semiconductor manufacturing, he said a reformist government with a growing manufacturing base and an ambitious technology-driven market provide "three-D strengths" for chip manufacturing in the country. He said, 'Today's India creates confidence in the world. You can count on India when things go wrong.' He said that more than Rs 1.5 lakh crore has already been invested in semiconductor manufacturing and several projects are in the pipeline.