New Delhi: Prime Minister Narendra Modi on Friday said India is taking all necessary steps to establish itself as a preferred and trusted destination for the global semiconductor industry. He made the remarks while inaugurating SEMICON India 2026 at Yashobhoomi in New Delhi.

Addressing the gathering, the Prime Minister said the global semiconductor industry is looking for new, reliable and trusted manufacturing destinations, and India is steadily building the capabilities required to meet this growing demand.

Modi highlighted the rapid expansion of India’s semiconductor ecosystem, saying it is creating new opportunities in innovation, investment, manufacturing and employment. He also spoke about the growing demand for Artificial Intelligence (AI), which, according to him, is changing the way the semiconductor industry approaches chip development.

He noted that the focus is no longer limited to reducing transistor size. Modern semiconductor development increasingly involves the integration of complete systems, including memory architecture, chip design, computing capabilities and efficient heat management.

The Prime Minister said India is witnessing growth on two fronts — its economy is expanding while global confidence in the country is also increasing. Referring to the challenging global economic environment, he said India recorded a 7.8 per cent growth rate. He also pointed to the recent upgrade in India's sovereign credit rating by a Japanese credit rating agency as another indication of growing international confidence.

Talking about the India Semiconductor Mission 2.0, Modi said its financial outlay has been increased to 13.5 billion US dollars, compared with around 8 billion dollars under the first phase. He said 12 semiconductor projects have already been approved and the number is expected to increase further as the next phase progresses.

The Prime Minister also referred to the recently held BRICS Summit in New Delhi, saying India successfully hosted the meeting and the New Delhi Declaration was adopted with the consensus of all member countries. He described the development as another indication of international trust in India's growing role.

Calling for greater participation from young researchers, Modi encouraged talented researchers working in India to contribute to the country's advanced technology ecosystem. He also urged Indian researchers currently working abroad to consider joining India's technology development efforts.

The Prime Minister called upon industry leaders to increase their focus on research and development, saying stronger cooperation between industry, researchers and young talent can support technological advancement while creating new opportunities for India's youth.

Union Minister for Electronics and Information Technology Ashwini Vaishnaw said the country had been working towards establishing a semiconductor industry for several decades, but significant progress has now been achieved. He said the foundation has been laid and the next objective is to expand the industry under Semicon 2.0.

According to Vaishnaw, Semicon 2.0 will focus on six key areas, including semiconductor design, equipment and materials, memory, silicon fabrication, compound and logic fabrication, and research and development.

The government has also set a target of supporting at least 200 startups and companies involved in semiconductor chip design in India, covering a wide range of requirements across the industry.

Minister of State for Electronics and IT Jitin Prasada, Electronics and IT Secretary S. Krishnan, senior officials, industry representatives and international delegations were also present at the event.

SEMICON India 2026, being held under the theme “Silicon to Systems: Building the Ecosystem,” has brought together more than 600 exhibitors, 300 international companies and delegations from over 50 countries.

The event features country pavilions from Japan, South Korea, Malaysia, the Netherlands, Singapore and Sweden, along with 12 state government pavilions and a dedicated Startup Pavilion.

The conference and exhibition bring together global and Indian semiconductor companies, policymakers, investors, researchers, startups, academic institutions and students to discuss the future of the semiconductor and electronics ecosystem.