Semiconductors: The Backbone of the Digital Era, Says India Prime Minister October 2, 2024 — Prime Minister Narendra Modi today highlighted the vital role of semiconductors in shaping the digital age. Speaking at a global tech summit in New Delhi, he emphasized that semiconductors are the “backbone of the digital era.” The Prime Minister expressed his government’s dedication to boosting semiconductor manufacturing in India. He called it a crucial step towards self-reliance and economic growth.
Semiconductors Powering Key Industries
In his speech, the Prime Minister pointed out how semiconductors are essential for many industries. From smartphones and computers to electric vehicles and medical devices, semiconductors power almost everything. He said, “Semiconductors are not just chips; they are the foundation on which the modern world is built.” These chips enable innovation in technology, which in turn drives development and progress.
India’s Push for Domestic Semiconductor Manufacturing
He also stressed the importance of creating a strong domestic semiconductor industry. According to him, this would reduce dependency on other countries and make India a global player in this critical sector. India has already started making progress in this area. The government has launched various programs to attract investment in semiconductor manufacturing. These initiatives aim to build new factories, create jobs, and enhance research and development.
Global Challenges in the Semiconductor Industry The Backbone of the Digital Era
Additionally, the Prime Minister discussed the challenges faced by the global semiconductor industry. The COVID-19 pandemic disrupted supply chains, leading to a worldwide chip shortage. This shortage affected industries like automobiles, electronics, and telecommunications. To avoid future disruptions, Modi said it is necessary to have more diverse manufacturing hubs across the world. He highlighted India’s potential to fill this gap by providing skilled labor and supportive policies.
Government Incentives to Boost Semiconductor Growth The Backbone of the Digital Era
To encourage growth, the Indian government is offering incentives to companies that invest in semiconductor manufacturing. The Prime Minister mentioned that tax benefits, infrastructure support, and research grants will help companies establish their presence in India. He believes that these steps will attract both domestic and international players.
In conclusion, Prime Minister Modi expressed confidence in India’s ability to become a key player in the global semiconductor industry. He stated, “India is ready to lead the semiconductor revolution and strengthen the digital world.” With these efforts, the government hopes to secure a bright future for India in the technology sector.