At India's Semicon, Narendra Modi launches a charm offensive for global investors, drawing pledges from Applied Materials and Lam for billions in investment (Sankalp Phartiyal/Bloomberg)

Prime Minister Narendra Modi has launched a charm offensive for global investors at India's top chip-industry event, SEMICON India. He pitched the country as a trusted partner and alternative manufacturing hub, highlighting its growing semiconductor ecosystem and expanding opportunities for innovation, investment, and growth.

Modi's initiative, Semicon 2.0, has an outlay of ₹1.27 lakh crore and aims to establish India as a preferred destination for semiconductor manufacturing. The government has approved 12 semiconductor projects under the first phase of the India Semiconductor Mission, with three already in commercial production.

Applied Materials, a US semiconductor equipment maker, has pledged to invest $5 billion in India over the next decade to expand its presence in the country. According to Investing.com, Lam also made investment pledges, though the exact amount was not specified. India's semiconductor consumption is projected to reach $110 billion by 2030, up from $45-50 billion in 2025.

Brief written by urgent.news from Techmeme, Investing.com, The Indian Express, Live Mint, YourStory — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.