ENA Sectors 2024-09-12 15:30:00 <p><span style="font-size:14px"><strong>New Delhi, Sep 12 (KNN)</strong> Prime Minister Narendra Modi has unveiled an ambitious plan to significantly expand India's electronics manufacturing sector, aiming to reach USD 500 billion in production value within six years.</span></p> <p><span style="font-size:14px">Speaking at SEMICON India 2024, Modi outlined a vision for India to become a global semiconductor powerhouse, emphasising the country's potential to manufacture both semiconductor chips and finished electronic products domestically.</span></p> <p><span style="font-size:14px">Addressing industry leaders, Modi stated, India's ambition is to do whatever it takes to become a semiconductor powerhouse of the world. </span></p> <p><span style="font-size:14px">He highlighted recent investments exceeding Rs 1.5 lakh crore in semiconductor manufacturing and design, positioning India as a reliable partner for global chip supply.</span></p> <p><span style="font-size:14px">The Prime Minister emphasised the synergy between technology and democratic values, asserting that India's semiconductor ecosystem could address both domestic and global challenges.</span></p> <p><span style="font-size:14px"> Our dream is that every device in the world will have an Indian-made chip, Modi declared.</span></p> <p><span style="font-size:14px">In his speech, Modi also noted India's growing international role in semiconductor supply chains. He mentioned India's appointment as vice chair of the Indo-Pacific Economic Framework's Supply Chain Council and its participation in the QUAD Semiconductor Supply Chain Initiative.</span></p> <p><span style="font-size:14px">Additionally, he cited agreements with Japan and Singapore, as well as deepening cooperation with the United States in the semiconductor sector.</span></p> <p><span style="font-size:14px">The government's strategy includes providing financial incentives and improving ease of doing business for companies investing in the semiconductor industry.</span></p> <p><span style="font-size:14px">Modi also highlighted the broader impact of semiconductor technology in India, noting its role in initiatives such as digital public infrastructure (DPI) that aim to fulfil citizens' aspirations.</span></p> <p><span style="font-size:14px">This announcement comes amid a global focus on diversifying semiconductor supply chains, with India positioning itself as an alternative manufacturing hub.</span></p> <p><span style="font-size:14px">The ambitious target set by the government signals India's intent to play a significant role in the global electronics and semiconductor industry in the coming years.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39250 https://knnindia.co.in/news/newsdetails/sectors/india-eyes-global-semiconductor-leadership-with-usd-500-billion-production-target-pm-modi 2024-09-12 15:30:00 knnindia.co.in