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Semiconductor industry leaders on Wednesday hailed India's chip vision, saying the country can become a global hub with a long-term vision and PM Narendra Modi's government is moving in the right direction. 

Rutger Wijburg, COO and Member of the management board at Infineon Technologies AG, told IANS that India offers a fantastic opportunity for chip companies.

"The discussion with Prime Minister Narendra Modi has enlightened me about the work the country is doing in the field of semiconductors. There is an enormous need for semiconductors in India and companies like us can help build the local supply chain," Wijburg 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 become a $110 billion semiconductor industry by 2030, targeting 10 per cent of global demand.

Wijburg said there is enormous potential for chips not only to be used in the country but also for the global markets.

"India can become a global semiconductor hub with a long-term vision and I am convinced that the Indian government is taking this goal very seriously," he added.

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

"We wish to work and grow together in India," he said.

Win Chan from AGM Group says the Semicon India event is very impressive, with so many companies participating and a lot of customers visiting. "This event truly brings great value to the companies involved," he mentioned.

The three-day ‘Semicon India 2024’ is being attended by over 600 exhibitors and more than 100 global companies. Organised by SEMI in partnership with Messe Munchen India, MeitY, India Semiconductor Mission (ISM) and Digital India, the event underscores India’s emergence as a global semiconductor powerhouse.