MODI SECURES CHIP INVESTMENT PLEDGES AT INDIA SEMICON

Modi used India's premier semiconductor industry event to pitch the country as an investment destination, securing multi-billion dollar pledges from two leading chip equipment manufacturers. Applied Materials and Lam Research, both critical suppliers to the semiconductor production ecosystem, committed significant capital to support India's chip manufacturing expansion. The pledges reflect confidence in India's push to develop domestic semiconductor capacity and reduce global supply chain dependencies. India has positioned itself as an alternative manufacturing hub as geopolitical tensions reshape the global chip industry. The government has launched subsidy programs and infrastructure initiatives to attract semiconductor makers and equipment suppliers. The commitments from Applied Materials and Lam Research represent concrete progress for Modi's broader strategy to position India as a viable semiconductor manufacturing destination alongside established Asian competitors.