In the backdrop of India having received investment proposals from five global semiconductor majors to set up units, PM Narendra Modi on Friday inaugurated a three-day international seminar, while underlining how India could emerge a key partner in global semiconductor supply chain, Trend reports citing The Tribune India.
The proposals with India are for manufacturing semiconductor chips used in consumer devices, automobiles, laptops, mobile phones and smart TVs and are collectively valued at $20.5 billion, the Ministry for Electronics and Information Technology said. The PM underlined six reasons for India being an attractive investment destination for semiconductor technologies. First, he said, India was building a digital infrastructure to connect over 1.3 billion Indians; second, its expanding investment in 5G and clean energy; third, India’s own consumption of semiconductors expected to cross $80 billion by 2026 and $110 billion by 2030; fourth, a regulatory framework emerged with digitisation; fifth, exceptional talent pool; sixth, production-linked incentives of over $26 billion in 14 key sectors.