1 Lakh Jobs Expected as India Pours $15 Billion into Semiconductor Industry

India has taken a crucial step toward becoming a self-sufficient producer of semiconductors, with the government approving a $15 billion investment in three new manufacturing plants. This initiative builds upon the existing efforts to develop a robust domestic semiconductor ecosystem, aiming to reduce reliance on foreign imports.

Key Highlights:

• $15 billion investment: This substantial funding will be used to construct three new semiconductor plants within the next 100 days.
• Tata Electronics takes the lead: The first major chipmaking facility will be established by Tata Electronics in partnership with a Taiwanese company, focusing on the production of essential “mature chips” used in various industries.
• Beyond Tata: Additional projects include an assembly, testing, and packaging unit in Assam, along with another semiconductor unit in Gujarat through a collaboration between Indian and foreign companies.
• Job creation: The government estimates the chip fab scheme to generate over 26,000 direct jobs and benefit nearly 100,000 individuals indirectly.

Overall, these advancements signify a significant leap in India’s journey towards self-reliance in semiconductor production. With continued investments and collaboration, the country aspires to become a prominent player in the global chipmaking market.