Prime Minister Narendra Modi on Friday said technology firms will be given 50% financial assistance for setting up semiconductor manufacturing facility the country.
“We were offering incentives as part of the Semicon India programme. It has been increased, and now technology firms will get 50 per cent financial assistance to set up semiconductor manufacturing facilities in India,” Modi said adding that the semiconductor industry will witness exponential growth in India.
“A year ago, people used to ask why should they invest in the Indian semiconductor sector. Now they ask why not invest in India,” Modi further said while speaking after inaugurating Semicon India 2023 conference in Gujarat’s Gandhinagar.
The PM said that 300 colleges in India have been identified for starting courses on semiconductor design.
Every industrial revolution that the world witnessed was driven by aspirations of people at different times, the PM said, adding he believes the fourth industrial revolution being witnessed now is driven by India’s aspirations.
The ‘Semicon India 2023’ highlights investment opportunities in India’s semiconductor sector.
