Prime Minister Narendra Modi, in an exclusive conversation with India Today, expressed regret that India's semiconductor mission hadn't been initiated three decades ago, subtly criticizing past administrations for their approach to governance rather than nation-building.
During the interview, PM Modi remarked, “It's lamentable that over the last 30 years, those in power were preoccupied with running governments rather than steering the nation toward progress.”
Reflecting on the delay in starting the semiconductor mission, he emphasized, “The groundwork for the semiconductor mission should have commenced 30 years back. Our current initiative is already overdue.”
Under the leadership of the BJP-led NDA government, several strategic programs were introduced to bolster India's endeavour to emerge as a prominent global semiconductor manufacturing hub. Initiatives like the production-linked incentive scheme, Semicon India Programme, and more were launched, garnering attention from influential companies such as US-based chipmaker Micron Technology and Taiwanese electronics manufacturing giant Foxconn.
Micron Technology has already initiated the development of a substantial $2.75 billion semiconductor testing and assembly plant in Gujarat's Sanand.
PM Modi reiterated in the interview with India Today, “Our people possess remarkable capabilities, particularly in research and design. I firmly believe that India holds all the necessary elements to excel in semiconductor technology.”
“To achieve this, we are diligently concentrating on a blend of effective policies, incentives, and skill development. Our strides toward semiconductor manufacturing have been significant. Presently, our aim is to establish a comprehensive electronics manufacturing ecosystem within India, encompassing the entire value chain. We are actively working on cultivating a conducive and supportive environment for this endeavour,” emphasized PM Modi.
Throughout the interview, PM Modi touched upon various dimensions of India's economy, including the pivotal aspects of job creation, infrastructure enhancement, and advancements in cutting-edge technologies like artificial intelligence (AI).
He highlighted, “Job creation has remained our government's foremost priority, and our endeavours have been dedicated to this objective. The substantial impact of investing in infrastructure on growth and employment is widely recognized. Consequently, we have consistently amplified our capital investment outlay. In the 2023-24 budget, we have substantially increased it to Rs 10 lakh crore, a substantial escalation from Rs 1.9 lakh crore in 2013-14.”
Additionally, PM Modi articulated his ambition for India to assume a leadership position in the realm of AI. “We are directing efforts toward developing our own computing prowess, particularly in large-scale indigenous language models, acknowledging the diversity of Indian languages and our unique requirements,” he affirmed.
He underscored, “Guiding technological leadership also necessitates a shift in mindsets. From educational settings to corporate environments, our emphasis is on fostering innovation, ensuring accessible capital, and maintaining forward-thinking and consistent policies. It's important to remember that today's innovations shape tomorrow's industries, and it is these industries that foster investment and income growth.”
