(MENAFN- KNN India)
New Delhi, Sep 7 (KNN)
India is on the cusp of a major breakthrough in the global Semiconductor industry, with a wave of new projects being announced, discussed, and cleared, signalling the country's coming of age in this highly competitive space.
Industry estimates suggest that India could attract approximately USD 30 billion in semiconductor investments over the next two to four years.
This development represents a remarkable shift for a country that has struggled for nearly two decades to establish a foothold in this sector.
Of the estimated USD 30 billion, 60 percent of the proposed investments have already been approved by the Union Cabinet, highlighting the government's firm commitment to driving this growth.
This push places India in a strong position to capture
around 5-6
percent of the USD 500 billion in global semiconductor investments earmarked for the next few years, which will go toward the establishment of new plants and other infrastructure.
For India, this marks a critical moment after 17 years of aborted attempts to develop a domestic semiconductor ecosystem. Historically, the country's efforts were stymied by a lack of infrastructure, talent, and policy direction.
However, with the recent push from the Modi government, which includes targeted incentives, policy reforms, and partnerships with leading global players, the landscape has dramatically changed.
The surge in semiconductor projects also aligns with India's broader goal of becoming a global electronics manufacturing hub.
The demand for semiconductors has surged worldwide, driven by the proliferation of devices, electric vehicles, and advanced technologies like artificial intelligence. India, with its growing consumer market, skilled workforce, and now, increasing investments, is positioning itself to be a key player.
This transformation not only boosts the domestic economy but also strengthens India's strategic significance on the global technology map, as the country becomes a critical player in the ever-evolving semiconductor race.
(KNN Bureau)
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