Lagatar24 Desk
New Delhi, April 29: Prime Minister Narendra Modi on Friday launched India’s first three-day semiconductor conference, SemiconIndia 2022, in Bengaluru, promising to continue to promote the industry in the future.
According to him, a new international order is evolving, and India must seize the moment. By 2026, India’s semiconductor consumption will have surpassed $80 billion, and by 2030, it will have beyond $110 billion.
“I’m glad that such a conference is being hailed in India. After all, semiconductors are playing a critical role in the world in more ways than we can imagine. It is our collective aim to establish India as one of the key partners in global semiconductor supply chains. We want to work in this direction based on the principle of high tech, high quality and high reliability,” said PM Modi.
“First, we are building the digital infrastructure to connect over 1.3 billion Indians. You have all heard of India’s financial inclusion, banking and digital payment revolutions. UPI is the world’s most efficient payment infrastructure today. We are using digital technology. To transform all sectors of governance from health and welfare to inclusion and empowerment. We are one of the largest consumers of data per capita and we continue to grow,” he added.
He cited the government’s many reform actions, including the elimination of more than 25,000 compliances, a push toward licence auto-renewal, regulatory transparency and speed through digitisation, and one of the most favourable taxation frameworks in the world.
He also stated that the recently announced Semicon India programme, which will spend over $10 billion in semiconductors, display manufacturing, and design ecosystems, aims to give financial support to enterprises investing in semiconductors, display manufacturing, and design ecosystems.
