• UGI USER
  • Sep 11, 2024
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PM Modi Inaugurates SEMICON India 2024 in Greater Noida

Why in the news?

Prime Minister Modi inaugurates SEMICON India 2024, highlighting India’s vision to become a global semiconductor hub and its growing role in the industry’s global supply chain.

About the SEMICON India 2024 Inauguration:

  • Prime Minister Narendra Modi will inaugurate SEMICON India 2024 in Greater Noida on 11th september.
  • The event, themed “Shaping the Semiconductor Future,” will run for three days.
  • The conference aims to establish India as a global semiconductor hub by showcasing its strategies and policies.

Prime Minister’s Vision for the Semiconductor Sector:

  • At a recent Semiconductor Executives Roundtable, Modi emphasised India’s potential to be a trusted partner in the global semiconductor supply chain.
  • He highlighted the importance of semiconductors as the foundation of the digital age and predicted their role in basic necessities.
  • Modi assured that India’s government will maintain a stable policy environment, promoting “Make In India” and “Make for the World”
  • CEOs praised India’s dedication to semiconductor growth, calling the event unprecedented in uniting industry leaders.

Key Facts about Semicon India Programme:

  • Launched in 2021 with a financial outlay of 76,000 crore under the Ministry of Electronics and IT (MeitY).
  • Aims: to develop a sustainable semiconductor and display ecosystem in India.
  • Provides financial support for companies investing in semiconductor, display manufacturing, and design.
  • Promotes indigenous Intellectual Property (IP) generation and Technology Transfer (ToT).
  • Includes four schemes:
    • Semiconductor Fabs setup in India.
    • Display Fabs setup in India.
    • Compound Semiconductors/Sensors Fabs and ATMP/OSAT facilities setup.
    • Design Linked Incentive (DLI) Scheme to promote design.

What are Semiconductors?

  • Materials with electrical conductivity between conductors and insulators.
  • Essential for modern electronics, serving as the foundation of various devices.
  • Power technologies such as computers, smartphones, solar panels, and medical devices.
  • Key components in integrated circuits and transistors, enabling the functionality of electronic systems.

Associated Article: 

https://universalinstitutions.com/semicon-india-2024-key-industry-players-gather/