ENA Sectors 2024-03-28 14:00:45 <p><span style="font-size:14px"><strong>New Delhi, Mar 28 (KNN)</strong> The global semiconductor industry, valued at $750 billion, is poised for explosive growth in the next 6-7 years, and India is strategically positioned to seize this lucrative opportunity, according to Ashwini Vaishnaw, Union Minister for Electronics &amp; IT, Telecom, and Railways.</span></p> <p><span style="font-size:14px">Addressing the Business Standard Manthan summit on Wednesday, Vaishnaw outlined India's key competitive advantages.</span></p> <p><span style="font-size:14px">With nearly one-third of the semiconductor industry's global talent located in India, the country boasts a vast pool of skilled professionals capable of conceptualising, designing, and validating chips for fabrication.</span></p> <p><span style="font-size:14px">Despite its modest per capita income, India has prioritized renewable energy, with an impressive 42 per cent of its power generation capacity coming from green sources.</span></p> <p><span style="font-size:14px">Gujarat's Dahej region hosts one of the world's largest chemical manufacturing hubs, a critical component of the semiconductor supply chain.</span></p> <p><span style="font-size:14px">Top executives from 45 global semiconductor giants have endorsed India as the next natural destination, citing challenges elsewhere and India's compelling proposition.</span></p> <p><span style="font-size:14px">Vaishnaw dismissed concerns about prioritising manufacturing over services, asserting that India's scale allows for a multifaceted approach, leveraging both sectors' employment opportunities.</span></p> <p><span style="font-size:14px">The Tata Group's chip fabrication plant in Dholera, Gujarat, is set to commence operations by December 2026, marking a significant milestone in India's semiconductor ambitions. Two additional facilities in Sanand, Gujarat, and Morigaon, Assam, will assemble semiconductors.</span></p> <p><span style="font-size:14px">Vaishnaw highlighted the establishment of India's first chip fab as one of the most satisfying achievements during his ministerial tenure, underscoring the government's commitment to nurturing a robust semiconductor manufacturing ecosystem.</span></p> <p><span style="font-size:14px">While manufacturing remains a key focus area, the minister emphasised that the technology services sector will also receive substantial policy support, recognising the substantial employment prospects in both domains.</span></p> <p><span style="font-size:14px">With a policy roadmap favouring domestic manufacturing, Vaishnaw predicted that the manufacturing sector, currently employing approximately 30 million people, would double its workforce within the next five years.</span></p> <p><span style="font-size:14px">He cited the example of Indian-designed and manufactured telecom radio equipment being deployed in the United States and Europe as a testament to the country's growing prowess.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37192 https://knnindia.co.in/news/newsdetails/sectors/india-poised-to-become-semiconductor-manufacturing-hub-ashwini-vaishnaw 2024-03-28 14:00:45 knnindia.co.in