India's Semiconductor Ambition: PM Modi's Vision for a Resilient Supply Chain

Prime Minister Narendra Modi emphasized the significance of resilient supply chains for the economy while urging investments in domestic semiconductor manufacturing. Addressing the SEMICON 2024 conference, Modi highlighted India's reformist policies and its aspiration to become a global leader in chip production, with substantial investments already underway.

Prime Minister Narendra Modi on Wednesday highlighted the critical importance of resilient supply chains for the economy, as he advocated for increased investments in domestic semiconductor manufacturing—essential for technologies ranging from smartphones to electric vehicles and AI.

Addressing the SEMICON 2024 conference near the national capital, Modi underscored how the Covid-19 pandemic revealed supply chain vulnerabilities and stressed the need for proactive measures to prevent disruption. India's strategy focuses on fostering resilience across various economic sectors, including semiconductor production, a field severely impacted by global supply shocks during the pandemic.

The Prime Minister highlighted India's reformist policies, stable governance, and a tech-savvy market as core strengths that attract semiconductor investments. With a commitment of over Rs 1.5 lakh crore already secured and numerous projects in the pipeline, Modi declared India's ambition to become a global semiconductor powerhouse, confident in the nation's ability to inspire international trust and confidence.

(With inputs from agencies.)