India has secured investment commitments worth as much as $12 billion from global and domestic companies as the country steps up efforts to establish itself as a major semiconductor manufacturing hub.
The pledges have come within months of the launch of India’s latest semiconductor policy and include investments from companies involved in chip-making equipment, materials and chemicals.
Union Minister for Electronics and Information Technology Ashwini Vaishnaw highlighted the commitments at a major semiconductor industry event in New Delhi on September 17.
The latest investments signal growing interest in India’s plans to develop a domestic semiconductor ecosystem and reduce dependence on overseas supply chains.
The government has been seeking to attract companies across the semiconductor value chain, including manufacturing, equipment, materials and related technologies.
India’s push comes as countries around the world compete to expand domestic chip production amid rising demand for semiconductors across automobiles, electronics, telecommunications, artificial intelligence and other technology industries.
The new commitments could strengthen India’s position in the global semiconductor supply chain while supporting the development of local manufacturing capabilities and related industries.
