The statement was made during his opening speech at Semicon India 2024 on Wednesday, where he highlighted the potential of India's semiconductor industry and government support.
"This is the right time to be in India. In 21st-century India, the chips are never down. When the chips are down, you can bet on India."
He explained India aims to expand its electronics industry to $500 billion by 2030 and create six million jobs in the sector.
Modi added India is training a semiconductor workforce of over 85,000 technicians, engineers, and research and development professionals, emphasizing the focus on preparing students and professionals for the semiconductor industry.
The Prime Minister also mentioned that, following the launch of the "India Semiconductor Mission (ISM)," 1.5 trillion rupees ($17.8 billion) has been recently invested in establishing semiconductor manufacturing plants.
The ISM is an incentive program initiated by the Indian government to foster the domestic semiconductor industry. It primarily offers to cover up to half of the costs for foreign semiconductor companies establishing factories in India.
reporter
Kim Joo-heon
jhkim123@ajunews.com
