Indian Prime Minister Narendra Modi virtually inaugurated India's first Semicon conference in Bengaluru on April 29, saying that the country has shown the real meaning of business and now it depends on the industry leaders to make India a "vibrant semiconductor ecosystem".
Cabinet Ministers, semiconductor industry business leaders, investors, academics and diplomats were among those present on the occasion.
"A new world order is forming and we must seize this opportunity. India has an appetite for risk-taking. India has shown that we mean business. Now it is over to us to make India a vibrant semiconductor ecosystem," PM Modi said while addressing an inaugural session of the Semicon conference.
The Prime Minister also asserted that the country has an "exceptional" semiconductor design talent, making 20 per cent of the world's engineers.
"Today, we are skilling young Indians for the needs of the 21st century. We have an exceptional semiconductor design talent, making 20 per cent of the world's engineers," he said.
He underlined the critical role of semiconductors in today's world: "It is our collective aim to establish India as one of the key partners in global semiconductor supply chains. We want to work in this direction based on the principle of hi-tech, high quality, and high reliability."
According to the Prime Minister, six reasons make India an attractive investment destination for semiconductor technology.
"I see six reasons for India being an attractive investment destination for semiconductor technology... We want to work in this direction based on the principle of high technology, high quality, and high reliability," he added.