In Short:
India is leading the way in quickly approving new semiconductor plants, showcasing Prime Minister Modi’s vision, according to Union Minister Ashwini Vaishnaw. At the ‘Semicon India 2024’ event in Greater Noida, he noted that construction has begun on two plants (Micron in Gujarat and Tata’s in Assam) with more on the way. He emphasized the ease of doing business, highlighting rapid approval processes. The semiconductor industry is vital, as chips are used in many everyday devices like phones and cars. With a total investment of about Rs 1.52 lakh crore, over 250 companies from 24 countries are participating in the event.
India Leads the Charge in Semiconductor Manufacturing
New Delhi has become a shining example for the world in swiftly approving and launching new semiconductor plants, a milestone that’s a testament to Prime Minister Narendra Modi‘s vision, according to Union Railways and Electronics and IT Minister, Ashwini Vaishnaw.
Exciting Developments at ‘Semicon India 2024’
At the grand ‘Semicon India 2024’ event held in Greater Noida, Minister Vaishnaw announced that the construction of two semiconductor units has already kicked off – Micron in Gujarat and a chip plant by Tata Electronics in Assam. Plus, the groundwork for three more units is set to begin shortly!
“This is an outstanding example of the ease of doing business,” emphasized the Minister, “as all the permissions required for these chip units were obtained in record time, setting a benchmark for the global community.”
A Thriving Ecosystem
Minister Vaishnaw expressed his enthusiasm as he witnessed the presence of numerous CEOs and executives from various semiconductor sectors, including fabrication, equipment manufacturing, ATMP, and software companies. He underscored the importance of these sectors in fostering a dynamic semiconductor ecosystem.
Empowering the Nation through Technology
He also highlighted that initiatives such as the Digital India Mission and the telecom mission have significantly contributed to making technology accessible to everyday citizens. “The growth of the semiconductor industry will amplify PM Modi’s ambitious vision,” he stated. “Chips produced in this industry are essential in a multitude of devices, from medical instruments and mobile phones to laptops, cars, trucks, trains, and televisions.”
Significant Investments in the Future
Currently, there are five semiconductor manufacturing proposals in the pipeline, with a total investment nearing an impressive Rs 1.52 lakh crore.
The ‘Semicon India 2024’ event has attracted participation from over 250 companies across 24 nations, showcasing India’s growing significance in this vital sector. The event runs from September 11 to 13 in Greater Noida, and the excitement is palpable!
