Prime Minister Narendra Modi's statement comes against the backdrop of several initiatives launched by the BJP-led NDA government to boost India’s capabilities towards becoming a global semiconductor manufacturing hub.
Prime Minister Narendra Modi spoke exclusively to India Today after being named 2023's Newsmaker of the Year. (Photo: India Today)
Prime Minister Narendra Modi said India's semiconductor mission should have been initiated 30 years ago, taking a dig at previous governments in power. He said this during an exclusive interview with India Today.
During the interview, PM Narendra Modi said, “It is unfortunate that for 30 years, people in power were merely running governments, not the nation.”
"The semiconductor mission is something we should have started 30 years back. We are already late,” he added, when asked about his government's push to make India a global semiconductor manufacturing hub.
The BJP-led NDA government launched several schemes to boost India’s abilities towards becoming a global semiconductor manufacturing hub.
These include the ambitious production-linked incentive scheme, Semicon India Programme, and more. It is worth noting that the government’s initiatives towards transforming India into a semiconductor manufacturing hub have attracted major companies like US chipmaker Micron Technology and Taiwanese contract electronics manufacturing giant Foxconn.
Micron Technology has already commenced the construction of a $2.75 billion semiconductor testing and assembly plant in Gujarat's Sanand.
In the interview with India Today, Prime Minister Narendra Modi went on to say that “our people have tremendous abilities, be it in research or design,” adding that he believes “India has all the prerequisites to achieve success in the field of semiconductors”.
“For this, we are focused on the right mix of policies, incentives and skilling. We have taken giant leaps in our semiconductor manufacturing mission. Our focus is now on bringing in the entire ecosystem of electronics manufacturing to India, which includes the entire value chain. We are working towards creating a favourable and enabling environment for this,” PM Modi said.
The Prime Minister said job creation has been the government’s topmost priority and all efforts have been geared to this task. “It is well-known that investments in infrastructure have a large multiplier impact on growth and employment. Hence, we have constantly increased capital investment outlay. The budget of 2023-24 has increased it steeply to Rs 10 lakh crore, up from Rs 1.9 lakh crore in 2013-14,” PM Modi said.
The Prime Minister also wants India to take the lead in the field of AI. “We will be working on our own computing power in large indigenous language models, keeping in mind the diversity of Indian languages and our needs,” he said.
“This leadership in technology also requires a shift in mindsets. Today, from classrooms to boardrooms, we are ensuring the focus is on innovation and easy availability of capital along with progressive and stable policies. Remember, today’s innovation is tomorrow’s industry. And it is industry that brings investment and income growth,” he added.
When asked what’s being done to realise India’s $5 trillion economy goal, PM Modi said, “Our track record speaks for itself. When I became chief minister of Gujarat in 2001, the size of its economy was around $26 billion (Rs 2.17 lakh crore). When I left Gujarat to become the prime minister, the size of Gujarat’s economy had become $133.5 billion (Rs 11.1 lakh crore).”
“And as a result of the various policies and reforms, today Gujarat’s economy is around $260 billion (Rs 21.6 lakh crore). Similarly, when I became PM in 2014, the size of India’s economy was $2 trillion (Rs 167 lakh crore) and at the end of 2023-24, India’s GDP will be more than $3.75 trillion (Rs 312 lakh crore). It is this track record of 23 years which shows this is a realistic target,” he added.
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Prime Minister Narendra Modi spoke exclusively to India Today after being named 2023's Newsmaker of the Year. (Photo: India Today)
Prime Minister Narendra Modi said India's semiconductor mission should have been initiated 30 years ago, taking a dig at previous governments in power. He said this during an exclusive interview with India Today.
During the interview, PM Narendra Modi said, “It is unfortunate that for 30 years, people in power were merely running governments, not the nation.”
"The semiconductor mission is something we should have started 30 years back. We are already late,” he added, when asked about his government's push to make India a global semiconductor manufacturing hub.
The BJP-led NDA government launched several schemes to boost India’s abilities towards becoming a global semiconductor manufacturing hub.
These include the ambitious production-linked incentive scheme, Semicon India Programme, and more. It is worth noting that the government’s initiatives towards transforming India into a semiconductor manufacturing hub have attracted major companies like US chipmaker Micron Technology and Taiwanese contract electronics manufacturing giant Foxconn.
Micron Technology has already commenced the construction of a $2.75 billion semiconductor testing and assembly plant in Gujarat's Sanand.
In the interview with India Today, Prime Minister Narendra Modi went on to say that “our people have tremendous abilities, be it in research or design,” adding that he believes “India has all the prerequisites to achieve success in the field of semiconductors”.
“For this, we are focused on the right mix of policies, incentives and skilling. We have taken giant leaps in our semiconductor manufacturing mission. Our focus is now on bringing in the entire ecosystem of electronics manufacturing to India, which includes the entire value chain. We are working towards creating a favourable and enabling environment for this,” PM Modi said.
PM on job creation, $5 trillion economy and AI
During the interview, PM Modi addressed various facets of India's economy, including job creation, infrastructure growth and efforts in the field of advanced technologies such as artificial intelligence (AI).The Prime Minister said job creation has been the government’s topmost priority and all efforts have been geared to this task. “It is well-known that investments in infrastructure have a large multiplier impact on growth and employment. Hence, we have constantly increased capital investment outlay. The budget of 2023-24 has increased it steeply to Rs 10 lakh crore, up from Rs 1.9 lakh crore in 2013-14,” PM Modi said.
The Prime Minister also wants India to take the lead in the field of AI. “We will be working on our own computing power in large indigenous language models, keeping in mind the diversity of Indian languages and our needs,” he said.
“This leadership in technology also requires a shift in mindsets. Today, from classrooms to boardrooms, we are ensuring the focus is on innovation and easy availability of capital along with progressive and stable policies. Remember, today’s innovation is tomorrow’s industry. And it is industry that brings investment and income growth,” he added.
When asked what’s being done to realise India’s $5 trillion economy goal, PM Modi said, “Our track record speaks for itself. When I became chief minister of Gujarat in 2001, the size of its economy was around $26 billion (Rs 2.17 lakh crore). When I left Gujarat to become the prime minister, the size of Gujarat’s economy had become $133.5 billion (Rs 11.1 lakh crore).”
“And as a result of the various policies and reforms, today Gujarat’s economy is around $260 billion (Rs 21.6 lakh crore). Similarly, when I became PM in 2014, the size of India’s economy was $2 trillion (Rs 167 lakh crore) and at the end of 2023-24, India’s GDP will be more than $3.75 trillion (Rs 312 lakh crore). It is this track record of 23 years which shows this is a realistic target,” he added.
Semiconductor mission should have started 30 years ago, says PM Modi | Exclusive
Prime Minister Narendra Modi's statement comes against the backdrop of several initiatives launched by the BJP-led NDA government to boost India’s capabilities towards becoming a global semiconductor manufacturing hub.
