Addressing a gathering in Greater Noida in Uttar Pradesh during the Semicon India 2024 event, Modi said this was the best time to invest in India. He also took a dig at the expression "chips are down" to say that it was never so in India, and global investors could always look upon India for belief during difficult times.
Modi praised the semiconductor industry of India by mentioning that it had a very favorable investment climate in terms of ease of doing business and having stable government policies. He told the gathering that the work was in full swing to build a semiconductor workforce of 85000 engineers, technicians, and research and development experts, and underlined that huge investments were being made into semiconductor infrastructures.
He invoked the "3-D power" of the semiconductor industry: the reformist government, the growing manufacturing base, and the aspirational market. Modi also pointed out that semiconductor chips were fundamental to technology, mainly to the aspiration of millions of people.
He further said that there will be much more requirement of semiconductor chips now for providing support to India's Digital Public Infrastructure, which during COVID-19 stood resounding when most countries' banking systems failed to function.
The Greater Noida Development Authority organized SEMICON India 2024, a seminal global platform that will connect worldwide semiconductor giants, industry leaders, and government officials, from September 11-13, 2024. Over three days, the event promises to be a key driver in shaping India's fledgling semiconductor ecosystem. This event should ideally have about 250 exhibitors across the globe and a huge participation by around 150 speakers, thus being able to prove a platform for demonstrating new innovations and latest technologies from all stakeholders.
The inaugural ceremony will be conducted by no other than Prime Minister Narendra Modi at 11 AM today. The edition of SEMICON India 2024 underlines the growing ambition of India to turn itself into an international semiconductor hub. The theme at this year's event, "Shaping the Semiconductor Future", epitomizes the strong focus that the country has been putting on building a robust semiconductor manufacturing and design ecosystem adequately backed by the government.
India's Semiconductor Push
The industry of semiconductors is at its developing stage in India. However, the government has given major boosts for its development. A flagship program which began in the 2021, namely, Programme for Development of Semiconductors and Display Manufacturing Ecosystem, was a landmark step. With an allocation of Rs 76,000 crore, this program aimed at attracting global investments and provided much-needed support to domestic companies in semiconductor manufacturing.
The Union Cabinet had already sanctioned several semiconductor units across the country, notably at Sanand in Gujarat, Dholera in Gujarat, and Morigaon in Assam. Tata Electronics is among the important ones in this direction by setting up a fab semiconductor factory in Dholera, which is most likely to give an awesome fillip to India's semiconductor manufacturing capability.
The vision for a self-reliant India through "Make in India" propels the ambition of Prime Minister Modi into action; forming the core of semi-conductor industry involves attracting world leaders and forging partnerships between global and local players. The country, therefore, tries to reduce its import dependence and attain a strategic position in the supply chain of semiconductors globally.
Gautam Buddh Nagar Traffic Police issued advisory
Gautam Buddh Nagar Traffic Police, in a detailed advisory, has declared diversions for September 11, 2024. Traffic flow in Greater Noida will see several major routes being diverted along with advisory on alternative routes to help in smooth flow of traffic owing to the mega event. It is hoped that the participants and the commuter fraternity shall follow police guidelines so that delays and congestion can be avoided.
Inputs by Agencies
Image Source: Multiple Agencies
Ⓒ Copyright 2024. All Rights Reserved Powered by Vygr Media.
