GANDHINAGAR: Prime Minister Narendra Modi shared exciting news on Friday, revealing that India's electronic manufacturing industry has witnessed an extraordinary leap, crossing the USD 100 billion mark from a mere USD 30 billion in 2014.
The announcement was made during the official opening of SemiconIndia 2023 in Gandhinagar, where industry experts and leaders gathered under the theme 'Catalysing India's Semiconductor Ecosystem.' This grand event aims to showcase India's ambitious strategy and policy in establishing itself as a global nucleus for semiconductor design, manufacturing, and technology development.
In his address, Prime Minister Modi drew intriguing parallels between Moore's Law, the famous prediction of technology's exponential growth, and India's remarkable progress in the digital and electronic manufacturing sectors.
Revealing the impressive surge in India's share of global electronic manufacturing, Modi said, "Back in 2014, India's electronic manufacturing stood at less than USD 30 billion, and today, it has exceeded a staggering USD 100 billion."
The Prime Minister also highlighted the doubling of electronics and mobile device exports over the past two years, emphasizing the importance of events like SemiconIndia, which serve as crucial platforms for industry leaders and experts to exchange insights and updates.
Modi stressed the significance of such gatherings, stating, "They play a pivotal role in synchronizing our relationships."
During his speech, Prime Minister Modi expressed his delight at the exhibition's innovative displays and the vibrant energy within the sector. He urged all attendees, especially the youth, to explore the exhibition thoroughly and grasp the immense potential of new technologies.
Reflecting on last year's Semicon event, the Prime Minister noted a remarkable shift in the investment climate within a single year, transforming the perspective from 'Why invest in India' to 'Why not invest in India.'
Modi praised the industry leaders, acknowledging their unwavering belief in India's potential, which led to this directional change. He commended them for aligning India's aspirations and capabilities with their own future goals and dreams.
"India does not disappoint," Modi declared confidently. The Prime Minister highlighted the extensive opportunities present in 21st-century India, citing the nation's strong democratic foundation, burgeoning demography, and dividend as powerful indicators for business expansion.
Furthermore, Prime Minister Modi provided insightful statistics on India's technological progress since 2014, pointing out significant increases in mobile manufacturing units, broadband users, and internet connections. These developments not only signify India's progress but also represent a plethora of burgeoning business opportunities.
Modi emphasized the Industry 4.0 revolution, stating that Indian aspirations are the driving force behind the country's development. He also highlighted the rapid decline in poverty rates, the emergence of a new middle class, and the growing adoption of technology among Indian consumers, all contributing factors to the consumption of digital products.
"The growing neo-middle class of India has become the powerhouse of Indian aspirations," declared the Prime Minister, emphasizing the nation's bright prospects for the future.
