"PM Modi: India Poised to Emerge as Key Semiconductor Manufacturing Hub"

During the foundation stone laying ceremony of three semiconductor projects valued at approximately Rs. 1.25 lakh crore under the 'India’s Techade: Chips for Viksit Bharat' initiative, Prime Minister Narendra Modi affirmed India's trajectory towards becoming a prominent semiconductor manufacturing hub. He underscored that chip manufacturing would propel India towards self-reliance and modernization, opening doors to limitless possibilities.

The three projects encompass a semiconductor fabrication facility at the Dholera Special Investment Region (DSIR), Gujarat, alongside Outsourced Semiconductor Assembly and Test (OSAT) facilities in Morigaon, Assam, and Sanand, Gujarat.

"Made in India and Designed in India chips will play a major role in taking India towards self-reliance and modernization," Modi stated via video conferencing, highlighting India's aspirations to lead the fourth industrial revolution, Industry 4.0, after missing out on the first three due to various factors.

He stressed the imperative for a robust supply chain post the disruptions brought about by the COVID-19 pandemic, positioning India to play a pivotal role in this aspect. Modi emphasized India's strengths in the tech domain, nuclear energy, and digital prowess, envisioning a future where India emerges as a global power in semiconductor manufacturing.

Modi emphasized the strategic significance of current policy decisions, anticipating India's advantageous position in the future. He credited the ease of doing business reforms and simplification of laws for attracting numerous investors from abroad. Modi highlighted liberalization measures in various sectors including defense, insurance, and telecom, fostering a conducive environment for investment.

India's growing stature in electronics and hardware manufacturing, supported by Production-Linked Incentive (PLI) schemes and electronic clusters, was emphasized by Modi. He noted India's status as the world's second-largest mobile manufacturer and highlighted initiatives such as the Quantum Mission and the establishment of the National Research Foundation to promote innovation and technology advancement.

Modi concluded by asserting India's march towards technological advancement, emphasizing both adoption and indigenous development as key components of this journey.

HBL