PM Modi Foresees Opportunities for Startups with Semiconductor Projects

In a landmark moment for India's technological future, Prime Minister Narendra Modi laid the foundation stone for three semiconductor projects collectively worth about Rs 1.25 lakh crores. The Semiconductor fabrication facilities were inaugurated in Dholera, Gujarat, and Outsourced Semiconductor Assembly and Test (OSAT) facilities in Morigaon, Assam, and Sanand, Gujarat.

PM Modi virtually participated in the 'India’s Techade: Chips for Viksit Bharat' program today.

India is set to become a prominent semiconductor manufacturing hub. The three facilities will drive economic growth and foster innovation.https://t.co/4c9zV3G9HL

— Narendra Modi (@narendramodi) March 13, 2024

India's Leap Towards Semiconductor Manufacturing Hub

Prime Minister Modi, in his address, emphasized that the historic occasion marked a significant stride towards making India a prominent semiconductor manufacturing hub. He commended the citizens for their role in these key initiatives, acknowledging the virtual presence of semiconductor industry players from Taiwan.

Addressing more than 60,000 educational institutions virtually, the Prime Minister underscored the transformative impact on India's youth. "A self-confident youth changes the destiny of the nation," he stated, highlighting the nation's commitment to self-reliance and the global supply chain.

Semiconductor's Role in India's Technological Advancement

In the context of the technology-driven 21st century, Prime Minister Modi stressed the pivotal role of electronic chips, asserting that domestically manufactured chips would lead India towards self-reliance and modernization. Connecting the semiconductor initiative to Industry 4.0, he emphasized the speed with which the government is working, linking commitments to delivery in a democratic framework.

India's Strategic Position in Semiconductor Manufacturing

Recognizing the limited number of nations manufacturing semiconductors globally, the Prime Minister expressed India's eagerness to play a crucial role, emphasizing the country's strengths in tech, nuclear, and digital power. He foresees India becoming a global power in semiconductor production, highlighting the importance of today's policy decisions for future strategic advantages.

Empowering Startups and Youth

Prime Minister Modi credited the semiconductor initiative for providing opportunities to the capable youth of India. He highlighted the unprecedented incentives and encouragement that have contributed to India becoming the third-largest startup ecosystem globally. Anticipating advanced technology job opportunities, he expressed confidence in the positive impact of the semiconductor projects on the nation's youth.

"Bharat has become the third-largest startup ecosystem in the world."#Startup #startupecosystem #youth #pmmodi #modi | @narendramodi @AshwiniVaishnaw @Bhupendrapbjp pic.twitter.com/Q7XCB4rFeK

— TICE.NEWS (@TiceNews) March 13, 2024

The Prime Minister said that semiconductor research will benefit the youth the most.

Touching upon the expanse of semiconductors over a vast range of industries, the Prime Minister said, “Semiconductor is not just an industry but it opens a door filled with boundless potential.”

PM Modi also pointed out the huge presence of Indian talent in global chip design and manufacturing. Therefore, the Prime Minister said, the talent ecosystem of India is completed as the nation moves forward today in the semiconductor manufacturing sector.

He stated that the youth of today are well aware of the opportunities being created for them, be it space or mapping sector and mentioned opening up these sectors for the youth.

He credited the unprecedented incentives and encouragement for India becoming the third largest startup ecosystem in the world and said that today’s occasion would create new opportunities for startups in the semiconductor space. He expressed confidence that the projects of today would provide numerous advanced technology jobs for the youth.

Future Vision and Accomplishments

Reflecting on India's trajectory, Prime Minister Modi acknowledged the rapid pace of decision-making and policy implementation, surpassing traditional thinking. He juxtaposed India's current forward-thinking approach with past missed opportunities in semiconductor manufacturing. With recent accomplishments across various sectors, he emphasized the role of today's semiconductor projects in propelling India's development goals.

Background and Future Plans

The foundation stones laid today align with the Prime Minister's vision of positioning India as a global semiconductor hub, fostering employment opportunities. The facilities in Dholera, Morigaon, and Sanand, led by Tata Electronics Private Limited and CG Power and Industrial Solutions Limited, signify a strategic move to strengthen India's semiconductor ecosystem.

The event was attended by prominent figures, including Union Minister for Electronics and Information Technology Ashwini Vaishnaw and Chief Ministers of Assam and Gujarat.

Through these initiatives, the semiconductor industry in India is expected to witness substantial growth, creating employment opportunities not only within the sector but also in related industries such as electronics and telecom. The program witnessed massive participation from youngsters, including thousands of college students and leaders from the semiconductor industry.

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