Summary:

Prime Minister Narendra Modi highlighted India’s semiconductor potential at Semicon India 2024, declaring it the "right time" to invest. India aims to grow its electronics sector from over $150 billion to $500 billion by 2030, creating 6 million jobs. "When the chips are down, you can bet on India," he said.

India already contributes 20% to global semiconductor design and plans to boost this while expanding its workforce to 85,000. Emphasizing its "3D power" in the industry, India points to a reformist government, a growing manufacturing base, and an aspirational market. Key initiatives include an $11.91 billion R&D fund and a $17.87 billion investment drive to enhance the local electronics sector.

Source: IBEF

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