Prime Minister Narendra Modi announced that India plans to establish five to eight new semiconductor manufacturing plants over the next eight years. The announcement was made during a recent address highlighting the government's focus on boosting the country's semiconductor ecosystem and reducing dependency on imports, according to economictimes.indiatimes.com.
The plan to set up these semiconductor plants is part of a broader strategy to strengthen India's position in the global technology supply chain. Modi emphasized the importance of domestic manufacturing to meet growing demand and foster innovation. The government aims to attract investments and create a robust infrastructure to support these facilities, with details expected to be unveiled in upcoming policy frameworks.
This initiative aligns with global trends where countries are prioritizing semiconductor production due to supply chain disruptions and geopolitical tensions. India's move to expand its semiconductor manufacturing capacity follows similar efforts by other nations to secure chip supplies critical for electronics, automotive, and defense sectors. The new plants will potentially create jobs and enhance technological capabilities within the country.
The government’s semiconductor policy is expected to be finalized soon, with the first plants projected to become operational within the next few years. This development marks a significant step in India's ambition to become a key player in the semiconductor industry, complementing existing manufacturing hubs and attracting global technology firms.