PRIME MINISTER NARENDRA Modi, during the 78th Independence Day speech, outlined India’s commitment to becoming a global leader in semiconductor production. This highlights the country’s mission to reduce dependency on imports and enhance technological self-sufficiency.
India accounts for close to 10% of global semiconductor consumption but lacks manufacturing capabilities. With a strong policy push, the country is now eyeing a demand of $272 billion by 2032 and aims to become a global semiconductor manufacturing hub.
POLICY PUSH
The production-linked incentive (PLI) scheme, introduced in December 2021, has acted as a catalyst, with big players like US-based chipmaker Micron, salt-to-software conglomerate Tata group, and the Murugappa group setting up manufacturing facilities.
The government has also announced a substantial allocation of $10 billion under Semicon India Program for the semiconductor and display manufacturing ecosystem. Of that, around $2 billion was disbursed last fiscal (FY24) and another $4 billion is expected to be spent in FY25.
“The centre’s initiative is not just about silicon manufacturing; it extends to areas like assembly, testing, and packaging,” says Navin Bishnoi, Country Head at Marvell India & AVP Central Engineering. These areas, known as OSAT (Outsourced Semiconductor Assembly and Test) and ATMP (Assembly, Testing, Marking, and Packaging), are integral to building a robust semiconductor ecosystem.
“The roll-out of comprehensive policies, coupled with incentives and funding, has laid the groundwork for expanding manufacturing capabilities in India,” Bishnoi tells Business Today. The response has been encouraging, with four major announcements, he says, marking a significant step forward in strengthening India’s position in the global landscape.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS