Prime Minister Narendra Modi has said that India is set to play a significant role in the global semiconductor market in the coming years. Speaking at a recent event, he explained that the demand for semiconductors is increasing worldwide with new technologies, electric vehicles, and digital transformation. India, with its skilled workforce, growing manufacturing base, and strong digital ecosystem, is preparing to capture a large share of this future market. The Prime Minister highlighted that semiconductors are the backbone of modern devices, from smartphones to medical equipment, and India cannot afford to remain dependent on imports.
Government Focus on Reducing Paperwork and Delays
PM Modi stressed that his government is making strong efforts to simplify rules and reduce paperwork for semiconductor companies. He said that earlier, businesses often struggled with red tape and long delays. Now, the aim is to create a transparent, time-bound, and investor-friendly system. The government is encouraging both global and local companies to set up semiconductor fabrication plants, testing units, and design hubs in India. Policies with subsidies, faster clearances, and industry-friendly laws are being introduced to make India one of the most competitive destinations for semiconductor manufacturing.
Building a Strong Ecosystem for the Future
The Prime Minister also talked about India’s larger goal of building a complete semiconductor ecosystem. This includes investment in supply chains, raw materials, skilled engineers, and research. Along with production, India wants to become a global hub for innovation in chip design. Universities and technical institutions are being linked with industry leaders to train young talent. Modi added that as demand for chips rises worldwide, India is in a unique position to contribute significantly while also boosting its own digital growth and economic strength.