Rutger Wijsberg, COO and management board member, Infineon Technologies AG, told IANS that India offers a great opportunity for chip companies.

"Discussions with Prime Minister Narendra Modi gave me insight into the work the country is doing in the semiconductor sector. There is a huge need for semiconductors in India and companies like us can help build the local supply chain," Wijsberg said. " On the sidelines of the 'Semicon India 2024' event here, which was inaugurated by PM Modi in the presence of industry stakeholders.

The country aims to have a $110 billion semiconductor industry by 2030, targeting 10 percent of global demand.

Wijberg said that chips have immense potential for use not only in the country but also in global markets.

He said, "India can become a global semiconductor hub in the long term and I am confident that the Indian government is taking this goal very seriously."

According to Koji Wada, Managing Director of FUJIFILM India, the government policy around semiconductors is very cordial and with the right kind of support the chip industry can flourish in the country.

“We want to work and develop together in India,” he said.

Vin Chan of AGM Group says that the Semicon India event is very impressive, with many companies participating and a large number of customers coming. “This event has really brought huge value to the companies involved,” he said.

Over 600 exhibitors and over 100 global companies are participating in the three-day 'Semicon India 2024'. Organized by SEMI in partnership with Messe München India, MeitY, India Semiconductor Mission (ISM) and Digital India, the event underlines India's emergence as a global semiconductor powerhouse.