India Wants to Become World Leader in Electronics and Semiconductors
Indian Prime Minister Modi: “After ‘oil diplomacy’ it's time for ‘silicon diplomacy’”
India, which in recent years has attracted global high-tech giants, from the USA to Taiwan, as its manufacturing base, is “destined to play an important role in leading the global semiconductor industry” and, more broadly, the electronics industry. So says Indian Prime Minister Narendra Modi, speaking at the inauguration of the annual Semicon India conference in the state of Uttar Pradesh.
This year’s conference, which featured more than 250 exhibitors and 150 speakers, including top executives from major global semiconductor manufacturers and industry experts, was titled “Shaping the Future of Semiconductors.” During the three-day event (September 12-14), the New Delhi government will showcase “India’s potential as a global center for semiconductor design, manufacturing and technology development.”
“India,” Modi emphasized, “currently contributes 20% to the development of semiconductors in the world, and this share is growing steadily.” In addition to semiconductor manufacturing, India is aggressively developing the electronics industry, which is currently worth $150 billion and will grow to $500 billion by the end of the decade with the creation of six million jobs. “Our goal is to have 100% of electronics manufacturing done in India. India will manufacture semiconductors, microprocessors, as well as many other types of finished products,” Modi emphasized, recalling “his government’s measures, including financial support of 50%, apart from contributions from individual state governments, for setting up semiconductor manufacturing plants.” Through this policy, India has attracted investments worth about 18 billion dollars.
“My government,” Modi concluded, “is also working on customs concessions and auctions for essential minerals. Additionally, it is involved in international cooperation under the Indo-Pacific Economic Framework (IPEF), the Quadrilateral Security Dialogue (QUAD) Semiconductor Manufacturing Initiative, and with Singapore. After “oil diplomacy,” it’s time for “silicon diplomacy.”
