Gandhi Nagar: Prime Minister Narendra Modi on Friday said that India has emerged as a powerful energy conductor for the semiconductor industry of the world. He was Inaugurating the Semicon India 2023 conclave in Gandhinagar. Dring his address Modi urged the global private players to grab the right opportunity to invest in the Indian semiconductor industry.

Noting that the foundation of the fourth industrial revolution is related to the Indian aspirations, the Prime Minister said that a stable, responsible, reform-oriented-government, expanding infrastructure and technology development, and massive talent pool make India a trusted partner in the global supply chain post pandemic. Reiterating the government’s commitment to create a vibrant semiconductor ecosystem, the Prime Minister said, the government is giving 50 per cent financial assistance to the technology players who wish to set up semiconductor manufacturing in the country.

The government has identified more than 300 educational institutes that will provide academic courses dedicated to the semiconductor sector to create skilled engineers.

The Prime Minister said, the electronic industry in India is growing by leaps and bounds. Electronic manufacturing and exports have also expanded in the country substantially over the past nine years. Chief Minister of Gujarat Bhupendra Patel said, the industry-friendly policies and infrastructure development make Gujarat the best destination for the semiconductor sector.

Union Minister of IT Ashwini Vaishnav said, considering the vast potential of the semiconductor industry globally, the Government of India has taken steps to promote semiconductor manufacturing in the country. He said the three recent MOUs with the semiconductor giants, will help India to emerge as the semiconductor hub in the days ahead. The three-day conclave is being organized by the Ministry of Electronics and Information Technology to showcase India’s semiconductor strategy and development in the field of Semiconductors. Minister of State for Electronics and IT Rajeev Chandrasekhar, was also present at the inaugural ceremony