India is positioning itself as a hub for future semiconductor production, reports Guardian Live.
India is a hub for semiconductor research and design but it lacks behind in the production of chips locally and currently holds only a 3% share of global electronics production. However, it is now rapidly promoting and developing its electronics manufacturing cluster and expects to more than double the growth between 2021 to 2026 to US$64 billion. India could have a large role to play in the semiconductor industry as the world’s fifth-largest economy looks to boost its domestic chip sector.
The Tata Group intends to invest US$90 billion (about Rs7,452 billion) in the semiconductor industry across the group companies over the next five years. It plans to foray into advanced chip manufacturing, popularly known as fabs, in a few years.
Israel-based International Semiconductor Consortium has plans to begin construction on India’s first semiconductor fabrication plant as soon as February 2023.
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