Jaishankar Invites Singapore Inc To Invest In Semiconductor Manufacturing In India

New Delhi, Mar 26 (KNN) During his visit to Singapore on Saturday, External Affairs Minister S Jaishankar briefed members of the local business community on India's advancements in semiconductor manufacturing and encouraged them to consider investing in this critical sector.

Highlighting India's progress, Jaishankar discussed the arrival of semiconductor manufacturing machines in the country and the ongoing efforts to establish the first three plants in this lucrative industry.

Jaishankar emphasised the purposeful and serious approach towards manufacturing investments, which has been notably absent for a considerable period.

"There is a degree of purpose and seriousness as well as investment going into manufacturing that has not been seen for a long time," the minister said.

While acknowledging the positive global response to India's Production Linked Initiative (PLI) Scheme, Jaishankar also reminded the audience of India's missed opportunities in manufacturing in past decades.

Semiconductors play a vital role in various sectors, ranging from electronic devices to consumer goods, solar panels, satellites, and defence equipment. India presently relies heavily on imports for nearly 90 per cent of its semiconductor needs.

Jaishankar's engagement underscores India's commitment to bolstering its semiconductor industry and attracting foreign investment, positioning it as a key player in the global electronics market.

(KNN Bureau)