Fourth industrial revolution in the world is driven by Indian aspirations: PM Modi

During the SemiconIndia Conference 2023, Prime Minister Narendra Modi mentioned that India was previously considered an emerging player in the semiconductor industry. However, he highlighted that the country has made significant strides since then, with its share increasing manifold. He pointed out that India’s electronics production was less than $30 billion in 2014, but it has now surpassed $100 billion.

“In two years, electronics exports have doubled. Mobile phones from India have doubled. A country that used to import phones is now manufacturing and exporting the best phones to the world,” stated PM Modi. 

According to Prime Minister Narendra Modi, the current fourth industrial revolution taking place worldwide is fueled by Indian aspirations.

“This event is similar to how it is necessary to update software. Through SemiconIndia, relations with Industry, experts and policymakers keep updating. I also think that this is essential for the synchronisation of relations, ” expressed PM Modi. 

Prime Minister Narendra Modi emphasized the significance of Semicon India in updating the connections with industry, experts, and policymakers. He expressed his belief that such updates play a crucial role in synchronizing these relationships.

“A year ago when we organized the first SemiCon, people were asking why invest. A year later, now the question has changed to why not to invest,” says PM Modi.

The Prime Minister, addressing the investors, stated that they have connected their future and dreams with India, assuring them that India will not disappoint. He emphasized the need for India to establish a chipmaking ecosystem, noting that the first mover in this endeavor would undoubtedly enjoy a significant advantage.

“The global pandemic and the Russia-Ukraine war have had their impact on all of us. India acknowledges that semiconductors are not just a national necessity but also crucial for the world, making India a trusted supply chain partner,” the PM remarked.

“I am pleased that the international community has faith in India, which is attributed to our stable, responsible, and reform-oriented government. The industry’s confidence in India is bolstered by the rapid development of infrastructure,” added the PM.

Emphasizing the trust in India, the Prime Minister highlighted that the tech sector has faith in the country due to its rapid development. He also pointed out that the semiconductor sector believes in India because of its abundant talent pool of engineers and designers. The PM further mentioned that the “Make in India” initiative not only focuses on manufacturing for India but also aims to create products for the global market. Additionally, he expressed optimism that India’s ongoing path of reforms will lead to the creation of new opportunities for everyone.

Updated: 28 Jul 2023, 02:33 PM IST