PM Modi promotes India as semiconductor hub, talks of supply chain resilience

Prime Minister Narendra Modi on Wednesday highlighted the critical importance of resilient supply chains for the global economy, making a strong case for boosting investments in India's semiconductor manufacturing sector.

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Speaking at the SEMICON 2024 conference, held on the outskirts of the national capital, the Prime Minister emphasised that the COVID-19 pandemic underscored the vulnerability of supply chains and the need for nations to build mechanisms to avoid future disruptions.

"Whether it was COVID-19 or war, there hasn't been a single industry that remained unaffected by supply chain disruptions," Modi remarked. He underscored India's central role in building resilience across various sectors and positioned the country as a crucial player in the global effort to safeguard supply chains.

"Resilience of the supply chain is very important. India is working to create the same in different sectors of the economy," Modi stated. He pointed out how the halt in flights, factory shutdowns in China, and surges in demand for certain products broke global supply chains during the pandemic, severely impacting the semiconductor sector, a key component in all modern electronic devices.