In the semiconductor space, he says fabrication companies will come here because India has got the population and the labour force
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India’s semiconductor sector is gaining traction with investments in fabs and chip packaging units and it is setting the stage for transformative growth across adjacent industries like automotive, solar, electronics, aerospace and telecommunications
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The Prime Minister shared his vision for India's semiconductor industry, stating, "My dream is that every device in the world should have a made in India chip"
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Vaishnaw noted that semiconductor chips are the cornerstone of modern technology and power essential industries including healthcare, transportation, and electronics, making them integral to India’s economic ambitions
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The expansion plan will also target additional players such as raw material suppliers and gas companies, vital to the semiconductor supply chain
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The initial phase includes a comprehensive assessment of India's existing semiconductor ecosystem and regulatory framework, as well as workforce and infrastructure needs
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The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, and mobile phones
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As part of the collaboration, Applied Materials intends to increase its workforce in Tamil Nadu, with plans to create over 500 technical jobs in the coming years
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This is a 355 per cent increase compared to the revised estimates of Rs 1,503.36 crore for the previous fiscal year 2023-24
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The revised policy aims to address the diverse specifications and needs of various semiconductor sub-sectors
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