Prime Minister Narendra Modi Inaugurates Semicon India Summit in Greater Noida
On Wednesday, Prime Minister Narendra Modi inaugurated the Semicon India summit at the India Expo Mart in Greater Noida, Uttar Pradesh. During his speech, PM Modi emphasized that this is the right time to invest in India, stating, “Many projects are currently in the pipeline, and India today assures the world that when the chips are down, you can bet on India.”
PM Modi shared his vision for India’s semiconductor industry, expressing his dream that every device in the world should have a ‘made in India’ chip. He highlighted that due to India’s policies, investments worth more than Rs 1.5 trillion have been made in the semiconductor sector in a short time.
He described India’s semiconductor industry as being equipped with ‘special diodes’ and assured investors of stable policies and ease of doing business. PM Modi also underscored India’s significant contributions to the global semiconductor design ecosystem, noting that India contributes 20% of the talent in this field.
The Prime Minister highlighted the country’s focus on education and skill development, preparing a semiconductor workforce of 85,000 technicians, engineers, and R&D specialists. He mentioned the recent meeting of the National Research Foundation on research and the creation of a research fund of Rs 1 trillion to boost semiconductor-related infrastructure.
PM Modi concluded by emphasizing India’s three-dimensional power: a reform-oriented government, a growing manufacturing base, and an aspirational market. He noted that India is a major consumer of chips and has built the world’s best digital public infrastructure on this foundation. The Indian government is providing 50% support for setting up semiconductor manufacturing facilities in the country.
Doubts Revealed
Prime Minister Narendra Modi -: Narendra Modi is the current Prime Minister of India, which means he is the head of the government.
Semicon India Summit -: The Semicon India Summit is a big meeting where people talk about semiconductors, which are tiny parts used in electronic devices like computers and phones.
Greater Noida -: Greater Noida is a city near Delhi, the capital of India. It is known for its modern buildings and industries.
India Expo Mart -: The India Expo Mart is a large place where big events and exhibitions are held. It is located in Greater Noida.
Rs 1.5 trillion -: Rs 1.5 trillion is a very large amount of money. In Indian currency, it means 1,500,000,000,000 rupees.
Semiconductor -: A semiconductor is a special material used to make electronic chips that power devices like computers, smartphones, and TVs.
Made in India chips -: Made in India chips are electronic chips that are manufactured in India, rather than being imported from other countries.
20% contribution to global semiconductor talent -: This means that 20% of the people who are skilled in making and designing semiconductors around the world are from India.
Rs 1 trillion research fund -: Rs 1 trillion is another very large amount of money, equal to 1,000,000,000,000 rupees, set aside for research and development in the semiconductor field.
Government support for semiconductor manufacturing facilities -: This means that the Indian government will help companies build factories to make semiconductors in India.
