India is becoming grand conductor for investments in semiconductor sector: PM Modi | India News

NEW DELHI: Prime Minister Narendra Modi on Friday said that India is becoming a grand conductor for investments in the semiconductor sector as the country is witnessing exponential growth in digital sector, electronics manufacturing.

Addressing the SemiconIndia Conference 2023, PM Modi said some years ago, India was an emerging player. Today, we have our share increased manifold. In 2014, India’s electronics production was less than $30 billion. Today it has crossed $100 billion.
“In two years, electronics exports have doubled. Mobile phones from India have doubled. A country that used to import phones is now manufacturing and exporting the best phones to the world,” PM Modi said.

PM Modi believes that the fourth industrial revolution we are witnessing in the world now is driven by Indian aspirations.
“This event is similar to how it is necessary to update software. Through SemiconIndia, relations with Industry, experts and policymakers keep updating. I also think that this is essential for the synchronisation of relations, ” the PM said.
The relations with industry, experts and policymakers get updated through Semicon India. I believe that this is crucial for the synchronisation of our relations, PM Modi said.
“A year ago when we organized the first SemiCon, people were asking why invest. A year later, now the question has changed to why not to invest,” PM Modi added.
You have attached your future and your dreams with India, PM said the investors adding that India doesn’t disappoint.
PM Modi said that India has to make an ecosystem for chip-making and whoever does it first would surely get first mover advantage.
“All of us have seen the global pandemic and the Russia-Ukraine war impact. India also understands that semiconductors are not only our need, but the globe needs a trusted supply chain partner,” the PM said.
“I am happy that the world trusts India. It is because of a stable, responsible and reform-oriented government. The Industry believes in India as infrastructure is developing rapidly,” PM said.
Stressing on the trust in India, PM said that the tech sector believes in the country due to rapid development. The semiconductor sector believes in India as we have massive talent pool of engineers and designers, he added.
“When we say Make in India, we also say Make for India, Make for the world,” the PM added.
PM Modi said that as India is going on the path of reforms, it will create new avenues for all.