New Delhi/IBNS: Prime Minister Narendra Modi on Wednesday assured the semiconductors industry "stable policies" and "ease of doing business" promising "an integrated ecosystem" for the sector in the country.

Modi made the remark inaugurating SEMICON India 2024 in Greater Noida, Uttar Pradesh.

Speaking at the event, Modi said, "In the semiconductors industry of Bharat, when you make an investment in diodes, the govt assures you stable policies and ease of doing business. Just like the semiconductor industry is connected to an integrated circuit, Bharat, too, provides you with an integrated ecosystem."

"Bharat is the 8th country in the world where a grand programme related to the Global Semiconductor industry is conducted. I can proudly say that this is the right time to be in India! You're at the right place at the right time. In the Bharat of the 21st century, the chips are never down. Today's Bharat reassures the world that when the chips are down, you can bet on India."

The Prime Minister claimed the country has increased investments worth over Rs. 1.5 trillion due to the steps by the government.

He said, "We are focused on increasing the number of chips that are manufactured in India. Government provides 50 percent support for installing semiconductor manufacturing units in India. Due to the government interventions, Bharat has already attracted investments worth over Rs 1.5 trillion.

"SEMICON India is one such initiative with a 360-degree approach that will enhance the overall production of chips in India. We want electronic devices globally to have a 'Made in India' logo."

Modi has referred to how the usage of 'chip' went beyond the semiconductor sector.

The Prime Minister said, "For India, 'chip' isn't limited to the semiconductor sector. For us, it is a means to fulfil crores of aspirations. Today, India is also one of the largest consumers of chips. India has created the world's largest Digital Public Infrastructure by using chips; these chips have enabled us to ensure last-mile delivery of the initiatives.

"Various digital platforms like UPI, RuPay card, DigiLocker and DigiYatra among others have become a part of a person's daily life now. In Bharat, there is an ever-increasing demand for data centres now. Bharat is going to play a huge role in leading the global semiconductor industry."