NEW DELHI, SEPT 17: Prime Minister Narendra Modi on Thursday said India’s semiconductor ecosystem is expanding rapidly, creating new opportunities for innovation, investment and economic growth.
Addressing the inauguration of SEMICON India 2026 at the Yashobhoomi Convention Centre in New Delhi, Modi said India is positioning itself as a trusted and preferred destination for global semiconductor manufacturing.
The Prime Minister said the world needs new and reliable locations for chip production and India is preparing to meet this requirement by building a strong semiconductor ecosystem.
“India is taking all measures to become a preferred destination for semiconductor manufacturing,” Modi said, highlighting the Government’s efforts to create an enabling policy and regulatory environment for the industry.
He said 12 semiconductor manufacturing projects have already been approved, adding that the number is expected to increase further during the next phase.
Modi also highlighted the expansion of the India Semiconductor Mission 2.0, whose outlay has been increased to USD 13.5 billion, compared with USD 8 billion under the first phase.
The Government, he said, is working on the policies, regulations and other frameworks required to support semiconductor manufacturers and ensure the sector's growth.
India is seeking to develop a complete semiconductor ecosystem, covering chip design, fabrication, advanced packaging, testing, equipment, materials, research and skilled manpower.
The initiative is also aimed at strengthening India's electronics manufacturing capabilities and reducing vulnerabilities arising from concentrated global semiconductor supply chains.
The Government is using financial incentives, India's engineering talent, growing domestic market and strategic location to attract global semiconductor companies and build capabilities across the chip value chain.
Meanwhile, Applied Materials announced a USD 5 billion investment under its Vision 2035 initiative, aimed at integrating India's semiconductor ecosystem more closely with global value chains.
The Prime Minister also referred to India's expanding economy and growing international confidence in the country, citing recent economic indicators and developments in India's credit rating.
