PM Modi Inaugurates SEMICON India 2024, Aims To Make India A Global Semiconductor Hub

New Delhi: Prime Minister Narendra Modi inaugurated the three-day conference on the semiconductor industry — SEMICON India 2024, at India Expo Mart in Greater Noida, Uttar Pradesh, on Wednesday.

The event will discuss policies and strategies to make India a global semiconductor production hub.

The PM said the world can count on India as it’s working with a 360-degree approach towards the chip industry. “In the 21st century India, the chips are never down. When the chips are down, you can bet on India,” he said while addressing the inaugural function.

Earlier, informing about the inauguration event, PM Modi tweeted, “At around 10:30 AM tomorrow, 11th September, I will inaugurate SEMICON India 2024. As India works towards becoming a hub in the world for semiconductors, SEMICON India brings together key stakeholders from the sector. The theme this year is ‘Shaping the Semiconductor Future.”

In another tweet, the PM said, “India’s semiconductor sector is on the brink of a revolution, with breakthrough advancements set to transform the industry. Addressing the SEMICON India 2024.”

Speaking on the occasion, IT minister Ashwani Vaishnaw said the government is working on a plan to develop a talent pool of 85,000 engineers in 10 years. “The government has tied up with 113 universities, academic institutions, and R&D organisations to develop a curriculum with a semiconductor focus. Our focus on design ecosystem development will lead to at least 3 or 4 major products in coming years.”

Following the PM’s commitment to the semiconductor industry with adequate infrastructure support, semiconductor stocks saw a price jump. Shares of RIP Power Electronics and SPEL Semiconductor rose by above 5% while CG Power and ASM Technologies rose by 2.5% each.