Today marks a significant milestone in India’s technological advancement and economic growth as Prime Minister Narendra Modi announced the laying of the foundation stone for three semiconductor projects, collectively valued at Rs 1.25 lakh crore. The projects are situated in Gujarat’s Dholera and Sarang, as well as Assam’s Morigaon, underscoring the nation’s commitment to becoming a global hub for semiconductor manufacturing.
Historic Step towards a Bright Future
In his address at the ‘India’s Techade: Chips for Viksit Bharat’ event, PM Modi emphasized the historic nature of this day, highlighting its pivotal role in scripting history and propelling India towards a brighter future. With the foundation laid for these semiconductor projects, India is poised to take a significant stride forward in technological innovation and economic development.
PM Modi’s Vision for Semiconductor Manufacturing
Prime Minister Modi reiterated India’s commitment to deliver on its promises, stating, “India commits and India delivers, democracy also delivers.” He expressed excitement about the collaboration with leaders from Taiwan, underscoring the global partnerships that will fuel India’s semiconductor endeavors. PM Modi also highlighted the extensive participation of educational institutions, with over 60 thousand colleges, universities, and educational institutes associated with the event, showcasing a collective effort towards fostering technological excellence.
Job Creation Potential
According to the India Semiconductor Association (ISA), the semiconductor industry in India holds immense potential to create between 1.75 to 2 million direct and indirect jobs by the year 2025. This underscores the transformative impact of semiconductor manufacturing on employment generation and economic prosperity.
Government Support and Vision
The Indian government’s steadfast support for the semiconductor industry is evident in its strategic focus on fostering domestic manufacturing capabilities. With a vision to surpass China by 2032, the government is actively promoting the growth of the semiconductor sector through conducive policies and initiatives aimed at attracting investments and nurturing talent.
