‘Come, invest in India’: PM Modi urges global chipmakers to take 1st mover’s advantage

New Delhi: Prime Minister Narendra Modi on Friday invited global semiconductors majors to come and invest in India and asserted that whosoever comes forward will have a “first mover’s advantage.”

PM Modi, addressing ‘Semicon India Conference 2023’ held in Gandhinagar, Gujarat, told investors, “You have to develop a chip-making ecosystem for Indians. I believe whosoever comes forward will have a first mover’s advantage.” The theme of the Conference is ‘Catalysing India’s Semiconductor Ecosystem’.

It aims to bring together global leaders from industry, academia and research institutions. It showcases India’s semiconductor strategy and policy which envisions making India a global hub for semiconductor design, manufacturing and technology development.

India, he said, is emerging as a trusted partner in the global chip supply chain.

“It is not just India’s needs, the world now needs a trusted and reliable chip supply chain. Who can be that trusted partner if not the largest democracy,” PM Modi said.

“World’s trust in India is rising. The trust is due to a stable, responsible, and reform-oriented government,” the Prime Minister said.

#WATCH | At SemiconIndia Conference 2023, PM Narendra Modi says, “Today, the world is becoming a witness to Industry 4.0. Whenever the world has undergone any industrial revolution, its foundation has been the aspirations of the people of any region. This was the relation between… pic.twitter.com/cCeLLHwIGb

— ANI (@ANI) July 28, 2023

“Indians are tech friendly and fast in adopting technology. Cheap data availability in villages, quality digital infra, and seamless power supply pushing data consumption in India,” he said, adding that India’s aspirations are driving its growth.

SemiconIndia 2023 witnessed the participation of representatives of major companies such as Micron Technology, Applied Materials, Foxconn, SEMI, AMD, among others.