India may get 5-8 more semiconductor plants in 7-8 years, says PM Modi
In his Independence Day address, the Prime Minister also said the government would train one crore youth in artificial intelligence skills over the next one year
 "India may get 5-8 more semiconductor plants in 7-8 years, says PM Modi")
Prime Minister Narendra Modi’s Red Fort speech on India’s Independence Day reiterated the need to use technology and build entrepreneurship for the future growth of the country. He also said Indian youth should embrace new technologies such as artificial intelligence (AI).
With the push for self-reliance across segments, the Prime Minister said India is expected to see another five to eight semiconductor plants become operational over the next seven to eight years. He said India already has three major semiconductor plants that are operational and that their products will be exported.
However, details of these projects were not announced.
He said that for years, India discussed semiconductors but lacked large-scale semiconductor manufacturing facilities.
“In today’s digital world and the age of technology, we understand the importance of chips. Whether it is electronic goods, medical equipment or transportation systems, chips are indispensable to all of them. Without chips, the entire world could come to a standstill,” Modi said.
India’s semiconductor focus has been driven by the launch of the India Semiconductor Mission by the central government in 2021. The mission, in its first edition, was supported by an incentive framework of ₹76,000 crore, offering fiscal support of up to 50 per cent for silicon fabs, compound semiconductor facilities, assembly and testing units, and chip design.
Earlier this year, the government announced the India Semiconductor Mission 2.0 with an outlay of ₹1.27 trillion. So far, 12 manufacturing units have been approved under the first India Semiconductor Mission.
The other area the Prime Minister stressed was the need to embrace technologies such as AI.
“AI technology is growing fast. To be able to harness this the government in the next one year will train one crore youths with AI skills,” he said in his Red Fort speech.