PM Modi in the inaugural ceremony semicon 2024 held at Gandhinagar, Gujarat expressed India’s ambition to become a reliable semiconductor industry partner and a global chip supplier.
Semicon India 2024, starting from July 28, 2024 will run for two days and is the second edition which builds on the success of 2022 attracting global semiconductor leaders and startups. The semicon India theme 2024 is “ catalysing India’s semiconductor ecosystem”
It witnesses significant growth with new products, technologies and industry professionals joining India’s semiconductor sector.
PM Modi noted that last year semicon India’s focus was on “why invest in India?” but now the question has shifted to “why not invest in India?”. India’s significant role in the semiconductor industry is evident as its future aspirations drive development. The country has made strides in reducing poverty and providing affordable data access even in rural areas.
According to PM Modi, semiconductors are just not just for the country’s own benefit but also a global necessity. The world requires reliable chip suppliers, and India is poised to fulfill that role. With the support of a stable, responsible and reform-oriented government the nation is dedicated to create a robust chip-making ecosystem.
Modi highlighted three key advantages that the country offers: its demography, democracy and dividend which can significantly boost business, potentially doubling and tripling their growth. Incentivising investors, India boasts some of the lowest corporate taxes and has streamlined the taxation process making it more efficient and transparent. The semiconductor industry receives special incentives, enjoying a “red-carpet welcome” from the government.
The nation’s digital and electronic manufacturing sector is experiencing remarkable growth, with its global share rising from $30 billion to over $100 billion. Electronic manufacturing exports have doubled in recent years, and India currently houses more than 200 mobile manufacturing units. The country’s broadband user base has striked from 60 million to an impressive 800 million.
MICRON TECHNOLOGY
Micron technology, a leading US-memory chip manufacturer, has confirmed its plans to construct a cutting edge semiconductor assembly and test facility in Gujarat. The announcement was recently made during PM Modi’s US visit, where he held discussions with Sanjay Mehrotra, the president and CEO of micron technology and other prominent figures from the semiconductor industry.
Addressing the audience at semicon India 2024, Sanjay Mehrotra lauded prime minister Modi for his visionary initiatives, such as Digital India and Make in India, which have garnered substantial support. Micron’s commitment to India’s semiconductor sector is exemplified through the Gujarat plant, which is projected to create approximately 5,000 direct jobs and additional 15,000 jobs in the local community.
Prior to semicon 2024, the proposed $2.75 billion assembly and testing plant was a topic of discussion with minister of commerce and industry, piyush goyal.
Construction of the facility is set to commence in 2024, and phase 1 is said to be operational by late 2024. Micron tends to gradually increase its capacity based on global demands. Phase 2 which is anticipated to be similar in scale to phase 1 will begin in the late half of the decade.
Micron’s decision to set up a manufacturing unit for both DRAM and NAND products in Gujarat is driven by the increasing demand for both domestic and international markets. Micron’s substantial investment in the region is anticipated to play a pivotal role in driving progress and development in this sector. The company’s presence is expected to create an environment conducive to innovation and foster significant business growth in the region.