India’s Semiconductor Boom: Global CEOs Hail PM Modi’s Vision at SEMICON India 2024
Leaders in the semiconductor industry gathered at SEMICON India 2024, celebrating India’s bold steps toward becoming a global semiconductor hub under the leadership of Prime Minister Modi.
India’s rapidly advancing semiconductor industry took center stage at SEMICON India 2024, held in Greater Noida, Uttar Pradesh, where top semiconductor CEOs lauded Prime Minister Narendra Modi’s visionary leadership. The three-day event, themed “Shaping the Semiconductor Future,” highlighted India’s ambition to emerge as a pivotal player in the global semiconductor landscape. Industry leaders expressed their optimism about India’s potential, while the Prime Minister’s strategic initiatives in this sector were praised for their long-term impact on both national and global markets.
PM Modi’s Exponential Growth Strategy for India
Ajit Manocha, CEO of SEMI, underscored the remarkable scale of SEMICON India 2024, describing the event as “unprecedented” with more than 100 global CEOs and CXOs in attendance. Manocha introduced the concept of “Modi’s law of exponential growth,” emphasizing how the Prime Minister’s policies are driving rapid advancements across the semiconductor industry. He noted that India’s burgeoning role as a semiconductor hub will benefit not only the 1.4 billion people of India but also the global population, underscoring the industry’s vital role in humanity’s future.
Tata Electronics CEO Applauds India’s Semiconductor Vision
Dr. Randhir Thakur, President and CEO of Tata Electronics, highlighted India’s swift regulatory processes, crediting Modi’s leadership for the successful approval and launch of the country’s first commercial semiconductor fab in Dholera and an indigenous OSAT facility in Assam. He emphasized the importance of India’s semiconductor ecosystem and partnerships that have been formed through the Prime Minister’s diplomatic efforts. Thakur concluded with a powerful message: “This is the right time—India’s time—to secure its digital future.”
Innovation, Democracy, and Trust: Keys to Long-Term Success
Kurt Sievers, CEO of NXP Semiconductors, celebrated India’s transformational journey, noting the country’s rise as a semiconductor powerhouse. Sievers highlighted that India’s growth is not only for the global market but also for its domestic needs, crediting Prime Minister Modi for embedding innovation, democracy, and trust—three elements that are essential for businesses to thrive in the long term. He also shared NXP’s plans to double its R&D investments in India, positioning the country as a leading force in semiconductor innovation.
Renesas Expands Commitment to India
Hidetoshi Shibata, CEO of Renesas, echoed similar sentiments, announcing plans to double the company’s headcount in India to support advanced semiconductor design activities. Shibata emphasized that India is well-positioned to lead in global semiconductor innovation, thanks to the robust support from the Indian government and the country’s expanding operational facilities in key regions like Bangalore, Hyderabad, and Noida.
IMEC CEO Champions India as a Trusted Global Partner
Luc Van Den Hove, CEO of IMEC, praised Prime Minister Modi’s long-term R&D strategy, emphasizing the importance of a reliable supply chain and India’s role as the world’s largest democracy. He reaffirmed IMEC’s commitment to collaborating with India on cutting-edge semiconductor research and development, positioning India as a key player in global supply chains.
As SEMICON India 2024 progresses, the event highlights India’s fast-evolving role in the global semiconductor industry, with significant endorsements from international leaders. Prime Minister Modi’s vision for a semiconductor-driven economy aligns with the country’s aspirations of becoming a global technological powerhouse by 2047.
