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Long-Term Policy Certainty Needed To Boost Semiconductor Investment In India: Micron EVP

Updated: Feb 22, 2024 05:18:43pm

Long-Term Policy Certainty Needed To Boost Semiconductor Investment In India: Micron EVP

New Delhi, Feb 22 (KNN) In a recent address at the Nasscom Technology and Leadership Forum in Mumbai, Manish Bhatia, the Executive Vice President for global operations at Micron Technology, underscored the critical importance of establishing long-term policy certainty to attract increased semiconductor investment in India.

Bhatia, speaking to the Business Line, emphasised that India must strive for a stable policy framework extending at least 25 years into the future to entice semiconductor players to invest in the country.

Highlighting India's inherent advantages such as governmental stability and robust democratic institutions compared to other developing nations, Bhatia emphasised the necessity of creating a conducive policy environment to allure semiconductor companies like Micron.

He stressed the significance of not only ensuring policy certainty for the domestic market but also for fostering an export-oriented semiconductor industry.

Bhatia pointed out that global semiconductor firms, spanning the entire value chain, seek predictability in policy spanning over multiple decades.

Drawing parallels with thriving semiconductor ecosystems in countries like Taiwan, Korea, and Japan, Bhatia outlined the need for India to replicate similar policy predictability to catalyse its semiconductor industry's growth.

Expressing optimism about India's potential, Bhatia highlighted the need for concerted efforts and alignment among all stakeholders, including the Central and State governments, as well as educational institutions.

He emphasised the imperative for collaborative action to realise India's capability in nurturing a successful semiconductor ecosystem over the next 15 to 20 years.

Micron, as a pioneer in semiconductor investment in India, recently committed an USD 825-million investment to establish a semiconductor assembly and test facility in Sanand, Gujarat.

The company is poised to produce its first made-in-India chip by December 2024.

Bhatia's remarks serve as a clarion call for policymakers and industry stakeholders to prioritise long-term policy stability and collaboration to position India as a formidable player in the global semiconductor landscape.

(KNN Bureau)


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