HomeIndia to be self reliant in Semiconductor IndustryIndia to spend $30 billion to achieve independence on chip supply chain

India to spend $30 billion to achieve independence on chip supply chain

- Advertisement -

Source : Indo-Asian News Service (IANS)


India to spend $30 billion to achieve independence on chip supply chain
Representative Image




India, which aims to become a global semiconductor hub in coming years, is set to pump $30 billion into its technology sector to achieve independence on chips so that it isn’t “held hostage” to global suppliers, the media reported on Thursday.

Gourangalal Das, director-general of the India-Taipei Association which is the country’s de-facto embassy in Taipei, told Nikkei Asia that the country would boost local production of chips as well as displays, advanced chemicals, networking and telecom equipment, batteries and electronics.

“There is an increase in demand for semiconductors. By 2030, India semiconductor demand will attain $110 billion. So by that point, it will likely be over 10 per cent of world demand,” Das was quoted as saying in the report.

“We want some assurance that our demand for semiconductors shouldn’t be held hostage to the vagaries of supply chains a” one thing that we noticed through the pandemic,a the diplomat added.

India and Taiwan are marching ahead to ink the much-awaited Free Trade Agreement (FTA) which will have prime focus on having a semiconductor manufacturing hub in India by a Taiwanese company.

If this gets through, it will be a win-win situation for both the parties as India aspires to become a global semiconductor manufacturing hub and Taiwan wants to move away its business from China.

The most immediate rationale in expanding the mutual cooperation lies in the setting that like many other Asian and South Asian countries including those of South Korea and Japan, Taiwan too seeks to pull out its investments out of the Chinese soil and reduce its dependence on the country.

This very well coincides with India’s quest to become a digital hub. India is making all possible efforts to become technologically resilient.

The FTA talks between the two nations are strongly pivoted around the proposal to build a semiconductor manufacturing facility in India.

The Indian government recently announced an outlay of Rs 76,000 crore (around $10 billion), under its production linked incentive (PLI) scheme, separately for the development of a semiconductor and display manufacturing electronics ecosystem.

In the last few years, India has been actively promoting cooperation with Taiwan in trade, investment, tourism, culture, education, and people-to-people exchanges. Both the countries have also constituted teams for the expansion of fruitful collaboration in education and skill development.

Das told Nikkei Asia that India is open to collaborations with Taiwanese tech gamers who’ve semiconductor, show and electronics manufacturing experience.

“One early entrant is iPhone assembler Foxconn, which has partnered with Indian pure assets conglomerate Vedanta to construct a semiconductor plant within the nation,” the report mentioned.

- Advertisement -
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments

Archive Months

Latest Posts

As per French Media report, India to announce Rafale-M as winner of Indian Navy MRCBF during PM Modi’s France visit in July this year

Source : Indian Defence Updates (IDU) As per French Media report, India to announce Rafale-M as winner of Indian Navy MRCBF during PM Modi's France...

MoD signs 2 contract worth Rs. 2,696 crore with BEL for 13 Lynx U2 Fire Control Systems and 12 Swathi Weapon Locating Radars

Source : PSU Connect MoD signs 2 contract worth Rs. 2,696 crore with BEL for 13 Lynx U2 Fire Control Systems and 12 Swathi Weapon...

MoD signs Rs 19,600 crore contracts for 11 Next Gen Offshore Patrol Vessels, 6 Next Gen Missile Vessels for the Indian Navy

Source : Press Information Bureau (PIB) MoD signs Rs 19,600 crore contracts for 11 Next Gen Offshore Patrol Vessels, 6 Next Gen Missile Vessels for...

Indian Army signs over Rs 6000-crore deal for Akash SAM systems with BDL

Source : Asian News International (ANI) Indian Army signs over Rs 6000-crore deal for Akash SAM systems with BDL New Delhi: In a major boost for...

China deploys upgraded HQ-9B surface-to-air missile (SAM) at Central Theatre Command of the People’s Liberation Army (PLA)

Source : Janes China deploys upgraded HQ-9B surface-to-air missile (SAM) at Central Theatre Command of the People's Liberation Army (PLA) The People's Liberation Army (PLA) has...
Visits
error: Content is protected !!