The Indian government led by Indian Prime Minister Narendra Modi launched the Make in India (MII) policy in September 2014 to attract overseas companies to invest and set up factories, and to strengthen India's domestic productivity and manufacturing capabilities. Asia's third largest economy has become the world's factory. Modi urged industry leaders and investors to "seize the opportunity", saying semiconductors played a key role in the formation of a "new world order." "India is interested in technology and adventure. We have supported you as much as possible through a supportive policy environment," he said at the first semiconductor conference in the southern Indian city of Bangalore.
Recently, the Indian government has launched another $10 billion subsidy to encourage manufacturers to set up fabs in India and related investments in the semiconductor industry. In recent years, the impact of the new crown epidemic has led to a global shortage of chips, and the situation has worsened after China, the largest semiconductor producer, has repeatedly ordered the closure of the city. In response to the shortage of chips, many governments and companies have begun to look for alternatives, and Western countries have also promoted regionalization of supply chains, creating new opportunities for India, which is trying to attack semiconductor manufacturing. Rajeev Chandrasekhar, India's Minister of Electronics and Technology Information, said: "India is very attractive from a geopolitical point of view. We are also likely to be one of the largest semiconductor customers outside the United States and traditional markets." That is, if the subsidy bill succeeds Implemented, the Indian chip manufacturing industry will not only bring huge profits, but also meet the rapidly growing demand for electronic products at home and abroad.
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