To facilitate ease of doing business in India, the government has done away with over 25,000 compliance norms, most of which are obsolete, and has also pushed towards automatic renewal of licences.
To facilitate ease of doing business in India, the government has done away with over 25,000 compliance norms, most of which are obsolete, and has also pushed towards automatic renewal of licences.
The previous government was like ‘not gate’ while it will be like ‘end gate’ for the semiconductor industry, Prime Minister Narendra Modi said while inaugurating the three-day Semicon India 2022 conference to be held in Bengaluru.
“In earlier times industries were ready to do their job, but the government was like ‘not get’. When any input flows into the ‘not gate’, it gets negated,” the prime minister said on April 29 via video-conferencing. “We understand that the government should be like an ‘and gate’. While the industry works hard, the government should work even harder.”
To facilitate ease of doing business in India, his government has done away with over 25,000 compliance norms, most of which are obsolete, and has also pushed towards auto-renewal of licences.
The Prime Minister said that India is moving towards a strong economy. “India’s own consumption of semiconductors is expected to cross $80 billion by 2026 and is expected to reach $110 billion by 2030,” he said.
“We are leading the way for India to lead the next technology revolution. We are on track to connect 600,000 villages with broadband. We are investing in developing capabilities in 5G, Internet of Things and clean energy technologies.”
He urged the Indian industry leaders to establish India as one of the key partners in global semiconductor supply chains and work towards high technology, high quality and high reliability.
Modi stressed that India has all the reasons to become an attractive investment destination globally for semiconductor technologies. “We are building digital infrastructure to connect over 1.3 billion Indians, and UPI is the most efficient payments infrastructure in the world today,” he said.
India is investing heavily in skilling and training young Indians for the needs of the 21st century.
“We have an exceptional semiconductor design talent pool, which accounts for up to 20% of the world’s semiconductor design engineers,” Mr. Modi said.
He further said that India has technology and risk-taking appetite, and his government is trying to remove the odds in favor of the industry as far as possible through a supportive policy environment.