PM Modi to inaugurate Semicon India 2023 on July 28 to attract investment in chip industry

Top executives from leading chip manufacturers such as Foxconn, AMD, Micron and IBM will attend the Semicon India conference

Prime Minister Narendra Modi will on July 28 inaugurate Semicon India 2023, a mega event focussing on boosting the semiconductor manufacturing ecosystem in the country, in Gujarat’s Gandhinagar.

Top executives from leading chip manufacturers such as Foxconn, AMD, Micron and IBM will attend the three-day event. The conference is being held in an earnest attempt to attract investment into India's chip industry and establish the country as a semiconductor manufacturing hub to rival countries such as China and Taiwan.

In December 2021, the Centre had approved an ambitious production-linked incentive (PLI) scheme worth $10 billion (around Rs 76,000 crore) for establishing a semiconductor ecosystem in the country.

"The event promises to be a catalyst for the semiconductor industry's progress through invaluable networking, technology demonstrations, and lucrative business prospects," a release by the Gujarat government on the Semicon India event said.

Speakers at the three-day event include Foxconn Chairman Young Liu, Micron Chief Executive Officer Sanjay Mehrotra, and Advanced Micro Devices Chief Technology Officer Mark Papermaster.

Around 23 countries apart from Indian states will be represented at Semicon India 2023. Gujarat and Uttar Pradesh will set up stalls at the event displaying their efforts in supporting the semiconductor industry.

Minister of Electronics and Information Technology, Railways and Communication Ashwini Vaishnaw, Minister of External Affairs Subrahmanyam Jaishankar, and Minister of State for Electronics and IT, Skill Development and Entrepreneurship Rajeev Chandrasekhar will also be present at the Semicon India 2023.

Minister of State (MoS) for skill development and entrepreneurship and electronics and IT Rajeev Chandrasekhar on July 27 said that India’s semiconductor industry lagged behind due to the lack of political vision and strategic clarity exhibited by previous governments. The MoS emphasised the huge potential India holds in the semiconductor sector and the government’s unwavering commitment to harness it.

Industry leaders and heads of semiconductor companies will also participate in the event.

The inaugural programme will highlight investment opportunities in India's semiconductor sector.

The Gujarat Government unveiled the Semiconductor Policy (2022-2027) – a strategic initiative that reflects the state's commitment to fostering accelerated and inclusive growth within the domestic semiconductor chip manufacturing sector.

Computer storage chip maker Micron has announced plans to set up a semiconductor assembly and test plant in Gujarat entailing a total investment of USD 2.75 billion (around Rs 22,540 crore).

Meanwhile, US President Joe Biden in June announced the establishment of a state-of-the-art semiconductor assembly, testing, marking, and packaging facility in India during PM Modi's maiden state visit to the US.