July 30, 2023
1 min read

India welcomes ‘chip’ players

The conference, with its theme ‘Catalysing India’s Semiconductor Ecosystem,’ aims to unite global leaders from industry…reports Asian Lite News

Prime Minister Narendra Modi on Friday promised 50 per cent financial assistance to players wishing to set up semiconductor manufacturing facility in the country.

Now technology firms will be given 50 per cent financial assistance to set up semiconductor manufacturing facilities in India, he said, adding, “We are continuously carrying out policy reforms to accelerate the growth of the country’s semiconductor sector”

He was addressing a gathering after inaugurating SemiconIndia 2023 at Mahatma Mandir here.

The conference, with its theme ‘Catalysing India’s Semiconductor Ecosystem,’ aims to unite global leaders from industry, academia, and research sectors.

At the conference, PM Modi underlined the significance of the ongoing fourth industrial revolution, linking it with the aspirations of Indian society.

The Prime Minister emphasised India’s readiness to “address global apprehensions about raw materials and manpower”,  besides promising to work collaboratively with private sectors that have demonstrated remarkable growth and success.

Highlighting the country’s vast talent pool and skilled engineers, Modi stressed on the nation’s global responsibility and efforts to bolster the semiconductor sector.

He noted recent initiatives like the approval of the National Quantum Mission and the introduction of semiconductor courses in over 300 colleges, aiming to produce more than 100,000 design engineers within the next five years.

“The sector in which we have worked closely with private players has touched new heights. Be it the space sector or geospatial sector, we have got excellent results everywhere”, the Prime Minister emphasised. 

He also informed about the critical decisions taken on the basis of feedback received.

Prime Minister Modi talked about the increased incentive under the Semicon India Programme.

SemiconIndia 2023 served as a stage for industry heavyweights such as Foxconn, Micron, AMD, IBM, Marvell, Vedanta, LAM Research, NXP Semiconductors, and STMicroelectronics to illuminate India’s strides in establishing a competitive global semiconductor manufacturing and design hub.

ALSO READ: Grab your ‘Make in India’ foldables soon

Previous Story

Google for startups accelerator invites applications

Next Story

BIMSTEC grid connectivity to drive regional growth

Latest from Business

EVs Drive Cleaner Cities

Each EV is equipped with GPS tracking for real-time monitoring and efficiently serves the city’s 159.46 square kilometre area The use of electric vehicles (EVs) in household waste collection is ushering in

Residential Market Sees Revival

Sales jump 77% from FY19 to FY25 as luxury housing, office leasing, logistics, and tech-led investments drive real estate recovery. India’s residential real estate market has witnessed a dramatic revival in the

Recovery From Realty Stress Rises

Crisil expects residential demand in these markets to grow by 7–9 per cent in FY26, offering critical support to projects now being revived through restructuring Asset Reconstruction Companies (ARCs) are expected to

Qatar Debut For Tata

Tata Motors emphasised that its international offerings are backed by strong research and development capabilities, with vehicles that are thoroughly tested and adapted to local conditions Tata Motors has unveiled its all-new
Go toTop

Don't Miss

High-Level Talks Between Russia and India on Afghanistan

Zamir Kabulovh’s visit to the national capital comes just two

Qureshi Visit Cements Pak-Iran Ties

President Rouhani also offered support and cooperation to Pakistan in