PM Modi invites global semiconductors majors to invest in the country

Prime Minister Narendra Modi on Friday invited global semiconductors majors to come and invest in India and asserted that whosoever comes forward will have a “first mover’s advantage," while speaking at the 'Semicon India 2023' event.

PM Modi said that India wants to emerge as a trusted partner for the semiconductor industry and is keen to be a chip supplier for the world.

He told investors," You have to develop a chip-making ecosystem for Indians. I believe whosoever comes forward will have a first mover’s advantage."


The event was aimed at bringing together global leaders from industry, academia and research institutions. It showcased India’s semiconductor strategy and policy which envisions making India a global hub for semiconductor design, manufacturing and technology development.

India, he said, is emerging as a trusted partner in the global chip supply chain.

“It is not just India’s needs, the world now needs a trusted and reliable chip supply chain. Who can be that trusted partner if not the largest democracy,” PM Modi said.

“World’s trust in India is rising. The trust is due to a stable, responsible, and reform-oriented government,” the Prime Minister said.

“Indians are tech friendly and fast in adopting technology. Cheap data availability in villages, quality digital infra, and seamless power supply pushing data consumption in India,” he said, adding that India’s aspirations are driving its growth.

Semicon India 2023 witnessed the participation of representatives of major companies such as Micron Technology, Applied Materials, Foxconn, SEMI, AMD, among others.

(With inputs from agencies)