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On Wednesday, Prime Minister Narendra Modi<\/strong><\/a> inaugurated SEMICON India 2024<\/strong><\/a> at the India Expo Mart in Greater Noida<\/strong>, Uttar Pradesh<\/strong>. The event marks a significant milestone in India\u2019s ambition to become a global leader in the semiconductor industry. PM Modi\u2019s speech emphasized the strategic importance of the semiconductor sector for India\u2019s future and highlighted the country\u2019s growing prominence in this critical field.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n\n \u00a0<\/p>\n \u00a0<\/p>\n In his address, PM Modi<\/strong><\/a> underscored that now is the optimal time to invest and innovate in India. He confidently proclaimed, \u201cIn the 21st century in India, the chips are never down. The world can bet on India when the chips are down.\u201d This statement reflects India\u2019s commitment to creating a robust and supportive environment for the semiconductor industry.<\/p>\n \u00a0<\/p>\n The Prime Minister highlighted the government\u2019s efforts in establishing favorable business conditions, including consistent policies and infrastructure that cater to the semiconductor sector. This proactive approach aims to attract global companies and position India as a key player in the semiconductor market.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n PM Modi also focused on the development of a skilled workforce to support the semiconductor industry<\/a>. The government is committed to training and producing 85,000 engineers, technicians, and R&D experts. This initiative is crucial for building a strong foundation for India\u2019s semiconductor ambitions and addressing the industry\u2019s growing demand for specialized talent.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n The Prime Minister referred to India\u2019s semiconductor sector as possessing a \u201c3-D power\u201d that drives its growth. This includes:<\/p>\n \u00a0<\/p>\n A Reform-Minded Government<\/strong>: The Indian government\u2019s progressive policies and support for the industry.<\/p>\n \u00a0<\/p>\n An Expanding Manufacturing Base<\/strong>: The growth of local manufacturing capabilities and infrastructure.<\/p>\n \u00a0<\/p>\n A Burgeoning Market<\/strong>: India\u2019s expanding consumer base and increasing demand for semiconductor technology.<\/p>\n \u00a0<\/p>\n PM Modi<\/a> emphasized that semiconductor chips are integral to India\u2019s Digital Public Infrastructure (DPI), which demonstrated resilience during the COVID-19 pandemic, unlike many banking systems globally. This resilience underscores the importance of strengthening India\u2019s semiconductor capabilities.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n India\u2019s semiconductor market, currently valued at approximately $23.2 billion, is projected to grow to $80.3 billion by 2028, reflecting a compound annual growth rate (CAGR) of 17.10%, according to Invest India. This significant growth trajectory highlights the sector\u2019s potential and the opportunities it presents for investors and industry stakeholders.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n The SEMICON India 2024 event<\/strong><\/a>, spanning three days, aims to showcase India\u2019s semiconductor strategy and policies. The conference will serve as a platform for leading global semiconductor firms, industry leaders, and experts to discuss and explore opportunities within the Indian market. This event is a testament to India\u2019s vision of establishing itself as a global hub for semiconductor manufacturing and innovation.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n With PM Modi\u2019s strong endorsement and the government\u2019s supportive measures, India is poised to make substantial advancements in the semiconductor industry. The focus on infrastructure, workforce development, and market growth positions India as a strategic player in the global semiconductor landscape. As SEMICON India 2024 unfolds, it will further solidify India\u2019s role in shaping the future of semiconductor technology.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Follow Before You Take<\/span><\/a> on <\/span>Facebook<\/span><\/a> | <\/span>Twitter<\/span><\/a> | <\/span>WhatsApp Channel<\/span><\/a> | <\/span>Instagram<\/span><\/a> | <\/span>Telegram<\/span><\/a> | <\/span>Threads<\/span><\/a> | <\/span>LinkedIn<\/span><\/a>, For the <\/span>Latest Technology News & Updates<\/span><\/a> | <\/span>Latest Electric Vehicles News<\/a> | <\/span>Electronics News<\/a> | Mobiles News<\/a> | Software Updates<\/a><\/p>\n The post PM Modi Launches SEMICON India 2024: India\u2019s Semiconductor Industry Poised for Growth with $80.3B Market Potential and 85,000-Strong Workforce<\/a> appeared first on Before You Take<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" \u00a0 On Wednesday, Prime Minister Narendra Modi inaugurated SEMICON India 2024 at the India Expo Mart in Greater Noida, Uttar Pradesh. The event marks a significant milestone in India\u2019s ambition to become a global leader in the semiconductor industry. PM Modi\u2019s speech emphasized Continue reading PM Modi Launches SEMICON India 2024: India\u2019s Semiconductor Industry Poised for Growth with $80.3B Market Potential and 85,000-Strong Workforce<\/span>India\u2019s Semiconductor Vision: A Supportive Ecosystem<\/strong><\/h2>\n
Building a Skilled Workforce<\/strong><\/h2>\n
The \u20183-D Power\u2019 of India\u2019s Semiconductor Sector<\/strong><\/h2>\n
Market Potential and Future Growth<\/strong><\/h2>\n
SEMICON India 2024: Showcasing India\u2019s Semiconductor Strategy<\/strong><\/h2>\n
Conclusion<\/strong><\/h1>\n