Business News | A New Bridge Has Been Built Between Gujarat's Sanand and Silicon Valley: PM Modi Projects India's Semiconductor Market to Exceed $100 Billion

Sanand (Gujarat) [India], March 31 (ANI): Prime Minister Narendra Modi, while inaugurating the Kaynes Semicon Plant at Sanand in Gujarat, stated that "a new bridge has been built between Sanand and Silicon Valley," marking the current period as the "decade of India."

Highlighting the rapid growth of the domestic electronics landscape, the Prime Minister projected that by the end of this decade, "India's semiconductor market could exceed USD 100 billion dollars". He noted that the commencement of production at this facility signifies India's strengthening role as a reliable semiconductor supplier in the global market.

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The Prime Minister emphasized that India's own company, Kaynes, has now become a strong part of the global semiconductor supply chain. According to the Prime Minister, the intelligent power modules manufactured at the Sanand plant are already witnessing high demand internationally.

"I have been told that a large part of the products made here have already been booked for export. For the California companies, Sanand's plant is providing intelligent power modules," he said, adding that these modules will reach American companies and "will give power to the whole world from there."

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He described this as a moment of pride that characterises the mantra of "Make in India, Make for the world."

Reflecting on the strategic importance of the sector, the Prime Minister noted that the global supply chain has faced significant disruptions due to pandemics and conflicts.

"Friends, this 21st century has brought many challenges to the world from the beginning. The crisis is due to the pandemic, the conflict is due to the global supply chain. Whether it is chips, rare earth minerals, energy, they have been greatly affected by a conflict. These are things related to the rapid development of humanity. Therefore, it is very important for a democratic country like India to move forward in this direction for the development of the whole world," he said.

"Atmanirbhar in the semiconductor sector is not limited to a single chip," he stated, explaining that it provides strength to multiple sectors, including AI, electric vehicles, clean energy, and defense.

The Prime Minister detailed the progress of the India Semiconductor Mission, which was initiated in 2021. He described the mission as an "announcement of India's self-confidence" rather than a mere industrial policy.

Currently, 10 projects worth Rs 1,60,000 crore are being executed across six states. Following the initial success, the government had announced the Semiconductor Mission 2.0 in this year's budget, shifting focus toward the production of semiconductor equipment and materials to create a "full-stack Indian semiconductor ecosystem."

To support this industrial expansion, the Prime Minister highlighted the government's focus on building a future-ready workforce. He announced that "more than 85,000 design professionals will be trained in India" shortly.

Furthermore, approximately 400 universities and startups have been granted access to modern design tools, resulting in the design and manufacture of more than 55 chips already. "Our target is to make as many chips as we need in India," he said, noting the high level of investor enthusiasm for this commitment.

The Prime Minister stated that the 21st century is a time to shape the future landscape through technology leadership. "India is working as a strategic asset in quantum computing. This will play a major role in strengthening India's digital future," he said.

He expressed confidence that the products originating from the Sanand plant will eventually reinforce India's identity as a "factory of the world." (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)