India's own semiconductor consumption will exceed $80 billion by 2026
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Update time : 2022-05-13 10:51:53
India was reported as hosting the Semicon India in Bangalore, the capital of Karnataka, from 29 April to 1 May.Indian Prime Minister Narendra Modi said the government is aware of its role as a driver and power multiplier and aims to build itself as an important partner in the global semiconductor supply chain. India has 20% of the world's VLSI design engineers, 250 design companies operating in India, and 24,000 design engineers design more than 2,000, Modi chips.
Electronics and Information Technology Minister Ashwini Vaishnaw said the government will approve $10 billion in semiconductors under India over the next six to eight months.India has received three semiconductor factory applications, two display plant applications, four packaging plant applications, and a compound semiconductor investment application.In addition, the three companies are working on making IC design investments under the Semicon India Program. During the three-day Semicon India 2022, several companies announced investments in India. ISMC, a joint venture between Tower Semiconductor and Next Orbit Ventures, has reportedly announced a $3 billion investment to build a 65-nm chip manufacturing plant in Mysore, Karnataka. The Indian government estimates that the country's semiconductor market will reach $80 billion in 2026 and $110 billion in 2030.
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