Semicon India 2024: Important Announcements, Investment Plans, and India’s Role in the Global Semiconductor Market

Prime Minister Modi inaugurated Semicon India 2024 in Greater Noida, highlighting India’s push to become a global semiconductor hub.

In a major step toward establishing India as a global leader in the semiconductor industry, Prime Minister Narendra Modi inaugurated Semicon India 2024 at the India Expo Mart in Greater Noida, Uttar Pradesh. The event, running from September 11 to 13, is not just a platform for technological innovation but a statement of India’s ambitions in the semiconductor sector. With the theme “Shaping the Semiconductor Future,” the three-day event is set to outline the nation’s roadmap for semiconductor manufacturing and design, along with policy updates that seek to attract major global investments.

Significance of Semicon India 2024?

Semicon India 2024 is a premier event in India growing efforts to create a robust semiconductor industry. The conference aims to put the country on the global map as a key player in semiconductor design, manufacturing, and technology development. It has brought together global leaders, top executives from the semiconductor sector, and policymakers under one roof to discuss the future of the industry.

The conference will feature over 250 exhibitors and 150 speakers, each showcasing innovations, insights, and strategies for advancing India’s semiconductor ambitions. The participants include industry giants such as Intel, TSMC, and Micron, among others, as well as key players from India.

PM Modi’s Vision for India’s Semiconductor Future

Prime Minister Narendra Modi’s push for Semicon India 2024 reflects his vision of positioning India as a trusted partner in the global semiconductor supply chain. During the inauguration, PM Modi emphasized that India has the capability to become a global semiconductor hub, driven by a talented workforce, stable policy frameworks, and government incentives.

Addressing industry leaders at the event, the Prime Minister highlighted that India’s semiconductor strategy is built around making the nation a reliable player in a diversified global supply chain. He reassured investors and global companies of a predictable and stable policy environment, encouraging them to invest in India’s semiconductor ecosystem.

Major Announcements at Semicon India 2024

A significant highlight of Semicon India 2024 is the discussion around India semiconductor strategy and policy. The government has laid out ambitious plans to make India a leading hub for semiconductor manufacturing. Here are the key takeaways from the event:

Larsen & Toubro’s $300 Million Investment: According to a Bloomberg report, Larsen & Toubro Ltd (L&T) announced plans to invest over $300 million to establish a chip manufacturing company in India. This move places L&T among other Indian conglomerates aiming to capitalize on India’s growing semiconductor ecosystem.
Global Participation: The conference has attracted top global players, including CEOs and senior executives from companies like Intel, Samsung, and TSMC. Their participation underscores the international interest in India’s semiconductor potential.
Government Support and Policies: Prime Minister Modi emphasized the government’s commitment to ensuring a conducive business environment for semiconductor firms. During the Semiconductor Executives’ Roundtable held earlier this week at his residence, PM Modi assured the attendees that their inputs would not only influence their businesses but also shape the future of India’s semiconductor industry.

India’s Role in the Global Semiconductor Industry

India’s drive to become a global semiconductor hub comes at a crucial time when the world is grappling with semiconductor supply chain challenges. The COVID-19 pandemic exposed vulnerabilities in the global semiconductor supply, and many nations are looking to diversify their semiconductor sources.

India has several advantages in this scenario:

Skilled Workforce: India’s highly skilled tech workforce is one of its strongest assets. With millions of engineers graduating each year, the country is well-positioned to support the semiconductor industry with talent for both design and manufacturing.
Stable Policy Framework: The Indian government is committed to providing a stable and predictable policy environment for the semiconductor industry. Various incentive schemes, including the Production Linked Incentive (PLI) scheme, have already been rolled out to encourage semiconductor manufacturing in the country.
Global Partnerships: India has been actively engaging with global semiconductor leaders to foster collaboration and investment. By positioning itself as a reliable partner, India aims to become an integral part of the global semiconductor supply chain.

Key Themes at Semicon India 2024

The theme of Semicon India 2024, “Shaping the Semiconductor Future,” encapsulates India’s broader goal of leading the charge in semiconductor technology. The key focus areas discussed at the conference include:

Innovation in Semiconductor Design: As India pushes to become a semiconductor hub, innovation in chip design and research is a major focus. Collaborations between Indian firms and global tech giants are expected to drive this effort forward.

Sustainable Manufacturing: Sustainable and environmentally friendly semiconductor manufacturing practices were a central theme. Companies and experts are exploring ways to reduce the environmental impact of chip production while increasing efficiency.

Government-Industry Collaboration: The conference has fostered dialogue between policymakers and industry leaders, ensuring that both sectors work together to build a thriving semiconductor ecosystem in India.

Looking Ahead to India’s Path to Becoming a Semiconductor Hub

Semicon India 2024 is more than just a conference; it is a clear indication of India’s determination to be a significant player in the semiconductor world. With significant investments from domestic companies like Larsen & Toubro and the participation of global semiconductor giants, India is well on its way to becoming a key player in the global semiconductor supply chain.

Under PM Modi’s leadership, the government is committed to creating a stable policy framework and a robust ecosystem that will attract global investment and innovation. As India continues to push forward with its semiconductor ambitions, it is poised to play a vital role in shaping the future of the semiconductor industry.