Greater Noida
Prime Minister Narendra Modi has set a target of USD 500 billion for India’s electronics sector, which is currently valued at USD 150 billion. Addressing the inaugural session of the ‘Semicon India 2024’ event in Greater Noida, he stated that this expansion aims to create 6 million jobs by the end of the decade.
Modi emphasized that 100% of electronics manufacturing should occur in India, including the production of semiconductor chips and finished products. The three-day event highlights India’s semiconductor strategy, which aims to make India a global semiconductor hub.
The Prime Minister said that while industries invest and create value, the government provides stable policies and facilitates Ease of Doing Business. He added that India contributes 20% to global designing and is building a workforce of 85,000 technicians, engineers, and researchers in the semiconductor field.
The government has approved five semiconductor units, with two already under construction. A high-end fabrication plant by American chipmaker Micron in Gujarat is expected to be operational by late 2024.
Union Minister Ashwini Vaishnaw announced that the government will soon launch the expanded Semicon 2.0 program, focusing on the complete value chain, and an upgrade plan for the semiconductor lab in Mohali will also be presented for approval soon.
