RT team
India is poised to enter the global semiconductor manufacturing arena within the next five years, armed with robust design capabilities and a substantial USD 10 billion incentive package. This strategic move aims to challenge the dominance of Taiwan, South Korea, and China in the semiconductor market, according to IT and Telecom Minister Ashwini Vaishnaw in an interview with PTI.
Semiconductors, crucial components in various electronic devices, have applications ranging from automobiles to computers and washing machines. With established factories of leading automobile and electronic companies, India is already a hub for manufacturing. Minister Vaishnaw emphasized the importance of building a semiconductor supply chain within the country to enhance self-reliance and stimulate economic growth across industries.
The ambitious semiconductor plans, supported by an INR 76,000 crore incentive package, have attracted major players like Micron and the Tata Group. Leveraging India’s abundant design talent, which accounts for one-third of the world’s talent pool, the government aims to position the country as a vital partner for global technological aspirations.
The move to invest in semiconductor production comes as countries seek to diversify their supply chains away from China, particularly following disruptions caused by Beijing’s strict lockdowns. With increasing interest from major players, India is set to witness a significant shift in semiconductor investment, marking a transformative phase in its manufacturing landscape.
