PM pitches India to chip majors, assures reforms

Modi said India is best positioned to become a trusted chip supplier to the world

- Gulveen Aulakh

Prime Minister Narendra Modi pitched India to global semiconductor companies, highlighting its expanding talent pool, favourable tax regime, and financial incentives.

Modi urged investors to seize the opportunity to invest in India and assured them that reforms to improve the business environment will continue.

“Last year, the question people were asking at Semicon India was why they should invest in India, but in one year, the question has changed to why not invest. The winds have changed, and the perception of India has changed," he said at Semicon India 2023 on Friday.

“This is the right time for India and the world," he said. Companies assembled at the event, including AMD, Foxconn, Micron, Applied Materials, Cadence and Vedanta concurred, with AMD announcing a $400 million investment in India and Micron appreciating the government’s efforts to quickly allocate land for building its packaging and testing unit with an investment plan of $825 million.