PM Modi holds meeting with Tata Sons & PSMC on Semiconductor project

In a significant move towards positioning India as a global player in the semiconductor industry, Prime Minister Narendra Modi recently had a meeting with Tata Sons and Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) to discuss semiconductor projects. This meeting marks India's commitment to leveraging technology for economic growth and development.

India's aspirations in the Semiconductor market

The semiconductor industry plays a crucial role in driving technological advancements across various sectors. By collaborating with key industry players like Tata Sons and PSMC, India aims to strengthen its foothold in this highly competitive market. This initiative not only promises to bolster India’s position in the semiconductor market but also aims to create numerous job opportunities, drive innovation, and attract further foreign investment in the technology sector.

Government's support for Semiconductor manufacturing

Taiwan’s PSMC and TATA Sons are venturing together into an ambitious semiconductor manufacturing project in Dholera, Gujarat. India's push towards self-reliance in semiconductor production is in line with the country's larger vision of becoming a global manufacturing hub. This strategic initiative has the potential to boost the economy, create skilled job opportunities, and reduce dependency on imported semiconductors.

Economic impact of Semiconductor projects

The semiconductor industry is a key driver of economic growth, with its ripple effects felt across multiple sectors. The development of semiconductor projects in India is expected to have a transformative impact on the country's economy. By investing in semiconductor manufacturing, India can enhance its technological capabilities, attract foreign investments, and strengthen its position as a knowledge-based economy.

It has been Narendra Modi’s dream to position India as a global hub of semiconductor design, manufacturing, and technology development. Under this vision, SEMICON India 2024 was organized at India Expo Mart in Greater Noida from September 11 to 13 with the theme “Shaping the Semiconductor Future”.

The three-day conference witnessed the participation of the top global semiconductor giants bringing together global leaders, companies, and experts from the industry. Over 250 exhibitors and 150 speakers took part in the event. 

The meeting between PM Modi and top officials of TATA Sons and PSMC is significant as it comes a day after India and the US collaborated to set up a semiconductor fabrication plant in the country.

In a recent post on X (formerly Twitter), the Prime Minister said, “Had a great meeting with the leadership team of Tata Sons and PSMC. They shared updates on their Semiconductor manufacturing projects. PSMC expressed enthusiasm to further expand its footprint in India.”

Had a great meeting with the leadership team of Tata Sons and PSMC. They shared updates on their Semiconductor manufacturing projects. PSMC expressed enthusiasm to further expand its footprint in India. pic.twitter.com/uyriq9qiLb

— Narendra Modi (@narendramodi) September 26, 2024

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