India will host the world’s first semiconductor industry event, Semicon India 2024, from September 11-13. | Representative photo
India aims to have 10 semiconductor manufacturing plants within 10 years, but the nature of government support may vary depending on the development of the industry, a senior official at India’s Semiconductor Mission said on Monday.
Speaking at a joint press conference of mobile industry body ICEA and Semicon India organiser Semi, Akash Tripathi said that by setting up the Indian Semiconductor Mission (ISM), it was envisaged to get two to three semiconductor manufacturing plants, two to three display fabs and various compound semiconductors.
“We will always be engaged with the industry, but the nature of those engagements may vary. In 10 years’ time, there will be projects that will be operational, producing semiconductors, the ecosystem will develop and then things will be different. As far as our aspirations are concerned, we would like to have 10 factories,” Tripathi said.
The government has received 20 proposals to set up semiconductor units, including chip packaging plants.
Tripathi said all the proposals are at different stages of approval and the government has approved five projects involving an investment of Rs 1.52 trillion.
Tripathi said Micron’s pilot facility began deploying chips starting in May, which is nearly six months ahead of the committed deadline of December 2024.
Semi Chairman and CEO Ajit Manocha said every job created in a factory will lead to the creation of five jobs in supporting units.
He said it took the semiconductor industry 60 to 70 years to reach $600 billion in revenue and in the next seven years it will nearly double to $1 trillion.
“Due to the chip shortage (during the pandemic), we were forced to shut down in many areas. We can no longer afford that kind of disruption. With that industry doubling in size, where do we want to focus growth? Yes, the same regions will grow, but we need more hubs to grow. India has the ingredients for success, I don’t think we can ask for a better place than India,” Manocha said.
He said other countries see the benefit of India and the need for this country to move forward.
“The participation in the upcoming Semicon India is four to five times more than what we expected. More than 250 companies from 24 different countries will participate in Semicon India 2024,” Manocha said.
India will host the world’s first semiconductor industry event, Semicon India 2024, from September 11-13.
ICEA Chairman Pankaj Mohindroo said the mobile industry in India will consume storage chips that will be manufactured in India.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 9, 2024 | 22:45 IS
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