Massive growth in electronics production is fueling demand for semiconductors: Rajeev Chandrasekhar
ET reported on Thursday that Apple’s contract manufacturers are expected to manufacture iPhones worth ₹47,000 crore in India this fiscal year, the second year of the Production Linked Incentives (PLI) scheme which has started in April. This will be almost five times the value of ₹10,000 crore of iPhones domestically manufactured in FY22 by Foxconn and Wistron.
Chandrasekhar said other reasons why India should venture into semiconductor manufacturing are that the design and innovation ecosystem in India is strong and the country is leading in all three major drivers of semiconductors – automotive, computing and mobile devices and new generation of processors that are driven by data, artificial intelligence.
Chandrasekhar was speaking in Bengaluru ahead of the three-day SemiconIndia 2022 conference. The conference which will be inaugurated by Prime Minister Narendra Modi on Friday “is envisioned as the launchpad to reinvigorate India’s ambition to become the global hub semiconductors and to promote chip design”. and manufacturing ecosystem”.
Earlier this week, Electronics and Information Technology Minister Ashwini Vaishnaw said that ”
“India is in full swing with its global plans whether it’s Intel or Global Foundaries” and India is in talks with some of the giants to lure them into the country.
Discover the stories that interest you
The conference will see the participation of global experts from industry, universities and research institutes, including names such as the founder of Indo-Us Venture Partners – Vinod Dham; Sanjay Mehrotra, President and CEO of Micron Technology; Randhir Thakur, President, Intel Foundry Services, Intel among others.
“India’s reasons for getting into semiconductors are not because the rest of the world is doing it. For us, this is a very reasoned expansion of the opportunities of the digital economy to include semiconductors,” Chandrasekhar said.
He also added that the head of the India Semiconductor Mission will be announced soon who will be responsible for evaluating the applications received by the government so far.
“For the past 22 years, technology services have driven the digital economy. Now think about the next 25 years. And the next 25 years will be about AI, data, internet, electronics and semiconductors. So in a sense we are investing now in what will be the future,” Chandrasekhar said.