Best semiconductor stocks in India are in the spotlight as Prime Minister Narendra Modi envisions India playing a pivotal role in advancing the global semiconductor industry. Speaking at the inauguration of SEMICON India – 2024, a three-day exhibition held at the India Expo Mart in Greater Noida, Uttar Pradesh, Modi expressed his ambition for India to become a major semiconductor hub.
Modi outlined his government’s commitment to transforming India into a semiconductor powerhouse. He highlighted the nation’s growing semiconductor workforce, which now includes 85,000 technicians, engineers, and R&D experts. He emphasized the need to prepare students and professionals to support the sector’s expansion and envisions Indian-made chips being used in devices worldwide.
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India has successfully attracted over Rs 1.5 lakh crore in investments for its semiconductor sector, a testament to its “three-dimensional power” — an innovative government, a growing manufacturing base, and a tech-savvy market. Modi likened the sector to a diode with bidirectional energy flow, where investments generate value and the government ensures stability and ease of doing business.
The prime minister stressed the importance of building resilient supply chains to avoid disruptions, referencing the impacts of events like Covid-19. He highlighted India’s role as a major semiconductor consumer, contributing to world-class digital infrastructure and last-mile delivery.
Looking ahead, Union Information and Broadcasting Minister Ashwini Vaishnaw announced that Semicon 2.0, the second phase of the Centre’s chip policy, will be launched in the next 3-4 months. Modi set an ambitious target to expand India’s electronics sector to $500 billion and create up to 6 million jobs by the end of the decade.
