“In one year, the question has changed from ‘Why invest in India’ to ‘Why not invest in India’”
“India does not disappoint those who align their dreams with India’s capabilities”
“Democracy, demography and dividend will double and triple the businesses in India”
“Be it health, agriculture or logistics, India is working towards a vision of smart technology usage”
“The world needs a reliable supply chain. Who can be a more trusted partner than the world’s largest democracy”
“India is becoming an excellent conductor for semiconductor investments”
“India understands its global responsibilities and is working on a comprehensive roadmap with friendly countries”

The popular Chief Minister of Gujarat Shri Bhupendra Bhai Patel, my Cabinet colleagues

Ashwini Vaishnaw ji, Rajeev Chandrasekhar ji, our friends from the industry Sanjay Mehrotra ji, Mr. Young Liu, Ajit Manocha ji, Anil Agarwal ji, Anirudh Devgan ji, Mr. Mark Papermaster, Prabu Raja ji, other dignitaries, ladies and gentlemen!

I can see many familiar faces in this conference. There are some people whom I am meeting for the first time. This programme is like a software that needs updating. Relations with the industry, the experts, and the policy makers are also getting updated through this Semicon India. And I believe that this is also very important for the synchronization of our relations. Many companies from India and abroad have come to Semicon India. Our start-ups have also joined us today. I welcome all of you to Semicon India from the bottom of my heart. And I just saw the exhibition which reflects the kind of progress made in this field, and the association of new people, new companies with a fresh zeal, as well as new products. I could spend only a little time but I had a wonderful experience. I would urge everyone, especially the young generation of Gujarat to come and see this exhibition which is going to continue for a few days. Try to understand and learn about the power this new technology has created in the world.


All of us had participated in the first edition of Semicon India last year. And at that time it was discussed, why should one invest in the semiconductor sector in India? People were asking- "Why Invest?" Now we are meeting after one year and the question has changed. Now people are asking, "Why NOT Invest?" And not only did the question change, but the direction also changed. And all of you and your efforts have changed this direction. That's why I congratulate all the companies present here for showing this confidence and taking this initiative. You have linked your future with the aspirations of India. You have combined your dreams with the potential of India. And India doesn't disappoint anyone. There are opportunities for you in 21st century India. India's democracy, India's demography and the dividend received from India will double and triple your business as well.


Moore's law is talked about a lot in your industry. I don't know the details of it but I do know that 'exponential growth' lies at its core. We have a saying here - ‘din duni raat chauguni tarakki karna’ i.e. progressing by leaps and bounds. And this is something similar. Today we are witnessing the same 'exponential growth' in India's digital sector, electronics manufacturing sector. Few years back India was an emerging player in this sector. Today our share in global electronics-manufacturing has increased manifold. In 2014, India's electronics production was less than $30 billion. Today it has crossed even 100 billion dollars. Electronics exports from India have also more than doubled within just two years. Export of mobile phones manufactured in India has also doubled now. The country which was once an importer of mobile phones, is now manufacturing and exporting the best mobile phones in the world.

And friends,

In some sectors, our growth is even more than what Moore's law projects. Before 2014, there were only 2 mobile manufacturing units in India. Today their number has increased to more than 200. If we talk about broadband connectivity, then in 2014 there were 6 crore users in India. Today their number has also increased to more than 800 million i.e. 80 crore users. In 2014, there were 250 million i.e. 25 crore internet connections in India. Today this number has also increased to 850 million i.e. more than 85 crores. These figures not only reflect the success of India, but every figure is an indicator of the growing business potential of your industry. The way Semiconductor industry is moving ahead with the goal of 'exponential growth', India plays a major role in achieving it.


Today the world is witnessing the fourth industrial revolution - 'Industry 4.0'. Whenever the world has passed through any such industrial revolution, its foundation has been the aspirations of the people of one region or the other. This was the relationship between the earlier Industrial Revolution and the American Dream. Today I see the same relationship between the fourth industrial revolution and Indian aspirations. Today Indian Aspirations are driving India's development. Today India is that country in the world where extreme poverty is ending rapidly. Today India is that country in the world where the Neo Middle Class is growing rapidly. The people of India are not only tech friendly but are also fast in terms of adoption of technology.

Today, cheap data in India, quality digital infrastructure that is reaching every village, and seamless power supply are increasing the consumption of digital products manifold. From health to agriculture and logistics, India is working on a massive vision related to the use of smart technology. We have a huge population here, who may not have used basic home appliances, but are now going to directly use Inter-Connected Smart Devices. There is a huge population of youngsters in India that might have never even used a basic bike but are now going to use smart electric mobility.

The growing Neo-Middle Class of India remains the powerhouse of Indian Aspirations. You must build a chipmaking ecosystem for a market of this scale in India which is full of possibilities. And I believe, whoever moves fast in this direction is sure to get the first-mover advantage.


You all are recovering from the side effects of the pandemic and the Russia-Ukraine war. India also realizes that semiconductors are not just our requirement. Today the world also needs a trusted, reliable chip supply chain. Who can be a better trusted partner than the world's largest democracy? I am glad that the world's trust in India is continuously growing. And why this trust? Today investors have trust in India because it has a stable, responsible and reform-oriented government. The industry has confidence in India because today infrastructure is developing rapidly in every sector. The tech sector has confidence in India because technology is expanding rapidly here. And, today the semiconductor industry has confidence in India because we have a massive talent pool, skilled engineers and designers. Anyone who wants to be a part of the world's most vibrant and unified market has trust in India. When we ask you to 'make in India', it also means that let's make for India and Make for the world.


India understands its global responsibility very well. Therefore, together with partner countries, we are working on a comprehensive roadmap. That's why we are putting all our efforts into building a vibrant semiconductor ecosystem in India. Recently, we have approved the National Quantum Mission. The National Research Foundation Bill is also going to be introduced in the Parliament. Now we are also making changes in our engineering curriculum to create a semiconductor ecosystem. More than 300 such major colleges have been identified in India, where courses on semiconductors will be available. Our Chips to Startups Programme will help engineers. It is estimated that in the next 5 years more than one lakh design engineers are going to be produced in our country. India's growing start-up ecosystem is also going to strengthen the semiconductor sector. For all the participants of Semicon India, these aspects are going to boost their confidence.

Friends, you all are very well aware of the difference between conductors and insulators. Energy can pass through conductors but not through insulators. India is ticking every 'checkbox' to become a good energy conductor for the semiconductor industry. Electricity is needed for this sector. Our solar power installed capacity has increased more than 20 times in the last decade. We have set a target of 500GW of renewable energy capacity by the end of this decade. Several major steps have been taken for the production of solar PV modules, green hydrogen and electrolyzers. The policy reforms taking place in India will also have a positive impact on the development of the semiconductor ecosystem. We have also announced several tax exemptions for the new manufacturing industry. Today, India is one of the countries with lowest corporate tax in the world. We have made the taxation process faceless and seamless. We have done away with many archaic laws and compliances that came in the way of ease of doing business. The government has also given special incentives for the semiconductor industry. These decisions, these policies are a reflection of the fact that India is laying the red carpet for the semiconductor industry. As India moves forward on the path of reform, more new opportunities will be created for you. India is turning into an excellent conductor for semiconductor investments.


Amidst these efforts, India is also aware of the needs of the global supply chain. We understand your expectations regarding raw materials, trained man power and machinery. That's why we're so excited to be working together with you. The sector in which we have worked closely with private players has touched new heights. Be it the space sector or the geospatial sector, we have got excellent results everywhere. You might remember that during Semicon last year, the government had sought suggestions from the players of the semiconductor industry. On the basis of these suggestions, the government has taken several major decisions. The incentives under the Semicon India programme have been increased. Now technology firms will be given fifty percent financial assistance to set up semiconductor manufacturing facilities in India. We are relentlessly carrying out policy reforms to accelerate the growth of the country's semiconductor sector.


The theme coined by India as the Presidency of G-20 is 'one earth, one family, one future'. This is also our spirit behind making India a semiconductor manufacturing hub. India's skill, India's capacity, India's capability should benefit the whole world; that's what India desires. We want to increase India's potential for Global Good and for a better world. Your participation, your suggestions and your thoughts are most welcome. The Government of India stands with you at every step. I wish you all the very best for this Semicon summit; and there is an opportunity. I had said from the ramparts of the Red Fort that this is the time and this is the right time not only for the country but also for the world. My best wishes to you all! Thank you.


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