Prime Minister Narendra Modi speaks on the Semicon India 2023 occasion, in the presence of Gujarat Chief Minister Bhupendra Patel, Foxconn chairman Young Liu, Vedanta group chairman Anil Agarwal, Union IT Minister Ashwini Vaishnav, and Minister of State (Electronics and Information Technology) Rajeev Chandrasekhar, held at Mahatma Mandir, Gandhinagar, on Friday, July 28, 2023.
| Photo Credit: Vijay Soneji
Technology firms will probably be given 50% financial assistance for setting up semiconductor-manufacturing services in the nation, Prime Minister Narendra Modi stated on Friday, July 28, 2023, as he introduced that his authorities had rolled out the crimson carpet for semiconductor industries.
Speaking after having inaugurated the Semicon India 2023 convention in Gandhinagar, Mr. Modi stated India was establishing a whole ecosystem for the semiconductor business to develop in the nation.
“We were offering incentives as part of the Semicon India programme. It has been increased, and now technology firms will get 50% financial assistance to set up semiconductor-manufacturing facilities in India,” Mr. Modi stated, including that the semiconductor business would witness exponential progress in India.
“A year ago, people used to ask why they should invest in the Indian semiconductor sector. Now, they ask why not invest in India?” he stated, including that the nation was turning into a grand conductor for investments in the semiconductor sector.
The world wants a trusted and dependable chip-supply chain, he stated.
Mr. Modi stated 300 schools in India had been recognized for providing programs on semiconductor design.
Every industrial revolution that the world has witnessed was pushed by individuals’s aspirations, Mr. Modi stated, including that he believed the fourth industrial revolution at the moment underneath method was being pushed by India’s aspirations.
The ‘Semicon India 2023’ highlights funding alternatives in India’s semiconductor sector.
