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March 3, 2024

India Poised to Emerge as Global Semiconductor Powerhouse in Next 5 Years: Minister Vaishnaw

ndia is set to make significant strides in the semiconductor manufacturing arena, with plans to become a key player in the global semiconductor industry within the next five years, as articulated by IT and Telecom Minister Ashwini Vaishnaw. Backed by substantial incentives and leveraging the country’s burgeoning design capabilities, India aims to establish itself as a formidable competitor in the semiconductor market, challenging the dominance of countries like Taiwan, South Korea, and China.

Vaishnaw emphasized India’s existing strengths in design talent, which accounts for nearly one-third of the global talent pool. The country’s policies and incentives have already enticed major players like Micron and the Tata Group to invest in semiconductor fabrication plants (fabs), paving the way for India’s ascent in the semiconductor manufacturing landscape.

The strategic move towards semiconductor manufacturing aligns with India’s broader geopolitical ambitions, positioning the country as a trusted alternative tech hub to China. As global supply chains face disruptions and countries seek to diversify their sources of production, India emerges as a democratic and reliable partner for high-tech manufacturing.

The recent approval of proposals to establish three semiconductor plants underscores India’s commitment to self-reliance and economic growth. These ventures, spearheaded by Tata Group and CG Power, are poised to create a ripple effect across various industries, generating employment opportunities and bolstering economic development.

Tata Electronics Pvt Ltd’s mega fab in Gujarat and semiconductor assembly facility in Assam, along with CG Power’s unit in Sanand, Gujarat, signify India’s concerted efforts to foster a robust semiconductor ecosystem. These initiatives will not only address the country’s domestic demand for semiconductors but also position India as a global hub for advanced semiconductor technologies.

The semiconductor industry’s pivotal role in various sectors, including automotive, consumer electronics, and defense, underscores its significance as a driver of economic growth. By nurturing a vibrant semiconductor value chain, India aims to catalyze innovation and technological advancement across multiple industries.

India’s proactive stance in attracting global chip makers through lucrative incentive schemes is poised to accelerate the country’s journey towards semiconductor self-sufficiency. With the global semiconductor market witnessing unprecedented demand and India’s concerted efforts to bolster its manufacturing capabilities, the country is poised to emerge as a formidable force in the global semiconductor arena in the coming years.

Rajan Shukla

Rajan Shukla

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