A senior government official responsible for overseeing India’s $10 billion chipmaking venture has announced that the country will commence construction on its inaugural semiconductor assembly plant next month.
It is expected that the plant will commence production for India’s first domestically manufactured microchips by the end of 2024.
Ashwini Vaishnaw, the Minister of Electronics and Information Technology in India, has revealed that Micron Technology, a prominent US semiconductor company, will be spearheading the project in Gujarat.
The $2.75 billion initiative, which also enjoys government backing, will commence construction in August.
According to Vaishnaw, the India Semiconductor Mission, led by the government of Narendra Modi, is actively engaged in extensive efforts to garner support from various supply chain partners. This includes collaborating with suppliers of chemicals, gases, and manufacturing equipment, as well as attracting companies interested in establishing silicon wafer fabrication plants.
He added:
This is the fastest for any country to set up a new industry. I’m not just saying a new company — this is a new industry for the country. Eighteen months is when we have targeted for [the first] production to come out of this factory — that is, December of 24.
The minister’s statements outline an ambitious timeline for Modi’s government, as it endeavors to enhance India’s capabilities in producing smartphones, batteries, electric vehicles, and other electronics.
Currently, India’s technology manufacturing sector lags behind the export-driven economies of East Asia, particularly China, which began earlier and provided more substantial industry subsidies.
Source: Financial Times
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