In a tweet, the PM said, “Had a productive meeting with Mr. Toshi Shibata, CEO of @RenesasGlobal. We discussed aspects relating to tech, innovation and India’s strides in the world of semiconductors.”

The meeting was held on Saturday

The Japanese firm said in a tweet, that during the meeting, they discussed how the firm can contribute to India’s vision for a digital future.

“Our CEO Toshi Shibata met with India’s PM @narendramodi to discuss the role that our industry plays & how we can contribute to India’s vision for a digital future. We’re committed to enabling #semiconductor ecosystem and digital infrastructure in #India. @PMOIndia #digitalization.”

In an effort to enhance semiconductor manufacturing in India, Union Minister for Electronics and Information Technology Ashwini Vaishnaw unveiled plans in February of this year to introduce a program aimed at propelling the country's semiconductor industry forward over the next decade.

In December 2021, the government initiated the Semicon India Programme, allocating Rs 76,000 crore for its implementation. The program is designed to bolster the growth of the semiconductor and display manufacturing ecosystem in India.

In 2023, Vaishnaw informed the parliamentary consultative committee that numerous state governments, including Gujarat, Madhya Pradesh, Karnataka, Odisha, Telangana, Andhra Pradesh, and Tamil Nadu, are engaging in discussions with companies to establish semiconductor manufacturing plants or fab complexes.