Prime Minister Narendra Modi on September 11 said the world can bet on India when the chips are down, adding that it is the right time to be in the country.
PM Modi was speaking at Semicon India 2024 event being held in Greater Noida.
Highlighting India's growing stature in the global chip manufacturing industry, PM Modi said the country contributes 20 percent of the world's talent, which is only increasing.
Modi also pointed that the country is investing heavily in building the semiconductor infrastructure.
"For India, chip’s meaning is not just technology, but a medium to address aspirations of consumers. India is a big consumer of chips," Modi said.
PM said the government is working with a 360 degree approach towards the semiconductor industry and it aims to increase the numbers of chips produced in the country.
"We are working with a 360 degree approach for semiconductor industry... Every device in the world should have an India-made chip."
PM Modi also informed that the government is partnering with the Indian Institutes of Technology to "do research on next-gen chips".
India is now the world’s number 2 producer and exporter of mobile handsets and has the second-largest 5G smartphone market in the world, Modi said during the event.
"Our aim is do 100 percent of electronics manufacturing in India itself - from semiconductor to finished goods."
Meanwhile, IT minister Ashwani Vaishnaw said the government is committed to develop a strong talent pool of 85,000 engineers and technicians in the next 10 years in India.
"Govt has tied up with 113 universities, academic institutions and R&D organisations to develop curriculum with semiconductor focus. Our focus on design ecosystem development will lead to at least 3 or 4 major products in coming years," Vaishnav said at the Semicon India 2024 event.
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