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PM makes strong pitch to global investors at ‘Semicon India’ conclave; U.S. semiconductor firm AMD announces plans to invest around $400 million in the country over the next five years.
Semicon India 2023
The Semicon India 2023 event is a major event in the semiconductor industry.
The event is attended by a number of companies from all over the world, and it is a chance for companies to showcase their latest products and technologies.
The event is also a chance for companies to network with each other and to learn about the latest trends in the semiconductor industry.
The Semicon India 2023 event is a positive sign for the Indian semiconductor industry.
The event shows that India is becoming a major player in the semiconductor industry.
The event is also a sign that the Indian government is committed to supporting the semiconductor industry.
$400 million Investment in India
U.S. chipmaker Advanced Micro Devices (AM) on Friday announced a $400-million investment in India over the next five years and said it will build its largest design centre in Bengaluru.
India is luring prospective chipmakers into the country to reduce reliance on expensive imports and dependence on Taiwan and China.
The government has offered $10 billion in fiscal incentives for units setting up chip-making factories in the country.
Schemes that help Made-in-India chip
The Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) has been notified with an aim to strengthen the value chain for the manufacturing of electronic products in India.
The target segment comprises of the downstream value chain of electronic products, i.e., electronic components, semiconductor/ display fabrication units, ATMP units, specialized sub-assemblies and capital goods for the manufacture of aforesaid goods.
The scheme will lead to higher domestic value addition and strengthen the existing ecosystem of ESDM in India.
Fostering local industry
Sophisticated chips are part of everyday life, used in mobile phones to refrigerators and cars to high-tech industries, and so fostering local industry with carefully-crafted schemes and policy sweeteners will link India to an ever-growing global chip market.
