New Delhi, Sep 11 (IANS): As the three-day Semicon India 2024 event kicked off in Greater Noida on Wednesday, entrepreneurs and traders were a happy lot as they got to showcase their products and also a chance to connect with respective global business partners.

Many traders at the exhibition welcomed the first-of-its-kind initiative by Prime Minister Narendra Modi-led government and called for making it a regular event, yearly.

Some entrepreneurs said that the Semicon India event helped develop a direct bridge with hi-tech global counterparts as well as the consumers, while others saw this as a big stepping stone in Make in India initiative.

Earlier on Wednesday, PM Modi after inaugurating the Semicon event, said that it was the right time to be in India as the government was offering stable policies and ease of doing business on investments.

Speaking at the inauguration, PM Modi said: "I can say that this is the right time to be in India. You are at the right place at the right time. In India of the 21st century, the chips are never down. Today's India makes the world believe that when the chips are down, you can bet on India."

A couple of traders spoke to IANS explaining the importance of the Semicon event and what it would mean for their businesses.

SCT Solutions' Nilesh Dhanraj said that the event was one of its kind in the country and companies from across the world are participating in it.

"This facilitates direct link between producers and consumers. We urge the government to organise more such events in the future," he added.

Gentec's Chinmaya Panchal said that such events should be organised not just once a year but also half-yearly or quarterly as such exhibitions help develop synergy between various stakeholders.

Win Chen of AGM group said that he was very happy to attend the SEMICON show.

"It was very impressive, many noted companies participated in the show," he said.

Jayesh Panchang, a representative of Taiwan-based company AGM said that after PM Modi inaugurated the event, the semiconductor industry should grow at a fast pace.

"We would be happy to be part of this journey," he added.

Stonhard India, which looks after clean rooms and conductive flooring of the semiconductor industry, said that it supports PM Modi's vision.

"This will give strength to the Made in India mission. Many global companies are taking part in it. Many stakeholders are coming under one roof and this will facilitate fast-paced growth," said Stonhard India representative.

Arun Kumar Singh said that his company has been given a target of installing 25 crore Smart meters.

"This will plug leakages in electricity distribution and will bring an end to power theft," he said.

Notably, the Semicon India 2024 is being organised from September 11 to 13 with the theme ‘Shaping the Semiconductor Future’. The three-day conference will showcase India's semiconductor strategy and policy which envisions making India a global hub for semiconductors.