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ISM aims for 10 semiconductor plants in 10 years: CEO
Industry News- Sep 12,24
The government has received 20 proposals for semiconductor units, including chip packaging plants, with five projects already approved involving investments totalling Rs 1.52 trillion.
India aims to establish 10 semiconductor manufacturing plants within the next decade, according to Akash Tripathi, CEO, India Semiconductor Mission (ISM). Speaking at a press conference hosted by the ICEA and Semicon India organiser Semi, Tripathi emphasised that while the initial goal was to set up a few semiconductor and display fabs along with various compound semiconductor facilities, the vision has now expanded.
The government has received 20 proposals for semiconductor units, including chip packaging plants, with five projects already approved involving investments totalling Rs 1.52 trillion. Notably, Micron's pilot facility has begun chip production ahead of its December 2024 deadline.
Tripathi highlighted that the semiconductor industry's evolution will influence the nature of future engagements, with operational projects and a developed ecosystem altering the landscape over the next decade. He stressed that every semiconductor fab job could create five additional jobs in supporting sectors.
Ajit Manocha, Semi President and CEO, pointed out that while it took 60-70 years for the semiconductor industry to reach $600 billion in revenue, it is expected to nearly double to $1 trillion in the next seven years. He stressed the need for new hubs to meet growing demands and praised India’s potential in this sector.
Semicon India 2024, the first global semiconductor industry event in India, will be held from September 11 to 13. The event has attracted over 250 companies from 24 countries, reflecting the growing interest in India's semiconductor potential. Pankaj Mohindroo, Chairman, ICEA, noted that the domestic mobile phone industry will benefit from locally produced storage chips.
(business standard)
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