New Delhi , July 28 : Prime Minister Narendra Modi announced a significant boost for the semiconductor sector during the SemiconIndia 2023 conference held at Mahatma Mandir. In his address, he pledged to provide 50% financial assistance to technology firms planning to establish semiconductor manufacturing facilities in India. The theme of the conference, “Catalysing India’s Semiconductor Ecosystem,” aimed to bring together global leaders from various sectors to explore opportunities for growth and development.

PM Modi highlighted the importance of the ongoing fourth industrial revolution and how it aligns with the aspirations of Indian society. He assured that India is ready to address global concerns about raw materials and skilled manpower. The Prime Minister acknowledged the country’s vast talent pool of skilled engineers and emphasized India’s commitment to the growth of the semiconductor sector.

During his speech, PM Modi mentioned recent initiatives like the National Quantum Mission’s approval and the introduction of semiconductor courses in more than 300 colleges, aimed at producing over 100,000 design engineers in the next five years.

He also expressed pride in India’s successful collaborations with private players in sectors such as space and geospatial industries. The Prime Minister assured that critical decisions were made based on valuable feedback.

Furthermore, PM Modi discussed the increased incentives under the Semicon India Programme, which is expected to drive further growth in the sector.

The SemiconIndia 2023 conference witnessed the participation of prominent industry players, including Foxconn, Micron, AMD, IBM, Marvell, Vedanta, LAM Research, NXP Semiconductors, and STMicroelectronics, showcasing India’s progress in establishing a competitive global semiconductor manufacturing and design hub.