Although this industry is still in the nascent stages, but there have been several recent developments that are expected to drive growth in this sector.
In 2020, the Indian government launched a $6.7 billion plan to boost local manufacturing of electronic products, including semiconductors. The government is offering incentives to companies that set up semiconductor fabrication plants in India, with the goal of reducing the country’s reliance on imported chips.
One of the most significant developments in this area is the establishment of a new semiconductor fabrication facility in India by Intel. The facility, which is set to become operational in 2023, will be Intel’s third major manufacturing facility outside the United States.
In addition to Intel, several other companies have also expressed interest in setting up semiconductor fabrication facilities in India. These include Samsung, Foxconn, and Wistron.
Apart from chip manufacturing, India has also been focusing on developing its expertise in design and software development for the semiconductor industry. Many Indian companies are now providing design and engineering services to global semiconductor companies.
Overall, India’s chip manufacturing story is still in the early stages, but there are several positive developments that suggest that the country has the potential to become a significant player in this industry. The government’s focus on boosting local manufacturing and the interest shown by global companies in setting up facilities in India are positive indicators of future growth in this sector.
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