World needs new, trusted chip bases, India ready for it: PM Modi
· Business · Indian Express, Times of India
Prime Minister Narendra Modi stated that the world requires new and trusted semiconductor manufacturing bases, positioning India as a ready alternative as global supply chains diversify. Inaugurating SEMICON India 2026 in New Delhi, Modi announced that India has entered the second phase of its semiconductor journey, shifting from policy framing and plant construction to commercial chip production. He noted that India achieved in four years what typically takes a decade, with 12 semiconductor projects approved under the first phase of the India Semiconductor Mission and three already active in commercial production. The government has introduced Semicon 2.0, a Rs 1.27 lakh crore programme expanding the focus to equipment, materials, design, research, supply chains, and skilled manpower. Domestic semiconductor demand is projected to reach $110 billion by FY30 and exceed $200 billion by FY35, contrasted against imports of nearly $150 billion between FY17 and FY25.
Why it matters
Global chip companies diversifying their supply chains can look to India as an emerging alternative hub, backed by the expanded Semicon 2.0 financial outlay.
Read the original report — Indian Express
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.