Speaking to global semiconductor investors, Indian Prime Minister Narendra Modi on Friday said that the country wants to emerge as a trusted partner for the industry and be a chip manufacturer for the world.
"To expedite the growth of the semiconductor sector in the country, we are continuously undertaking policy reforms," said Modi, adding: “We are working with partner countries for a comprehensive roadmap for semiconductor industry.”
He also stressed that by 2028, India will have a massive talent pool of over 100,000 chip design engineers.
To support semiconductor and display manufacturing projects, India has introduced financial incentives of up to 50% of the project costs, totaling $10 billion.
On July 21, India and Japan signed a memorandum of understanding (MoU) on semiconductor development, including design, manufacturing, equipment research and talent development.