India to invest 30 billion-dollar to resolve the local semiconductor crisis: Report – Smartprix
The 2020-present global chip shortage is an ongoing global crisis in which the demand for integrated circuits exceeds the supply, affecting more than 169 industries. In 2022, as well the crisis is at its peak due to factors like the war in Ukraine, Covid-19 lockdowns in China, earthquake in China, and more.
Now, to resolve the crisis at the local level, India has decided to invest an amount of $30 billion so that it can restructure its IT industry and build a semiconductor supply chain. This is being done so that the country is not kept hostage by foreign semiconductor suppliers.
ALSO READ: Lenovo Smart Clock Essential now comes with Alexa support; Know specs and pricing details
The Director General of the India-Taipei Association, Gourangalal Das claims that the South Asian country’s de-facto embassy in Taipei’s investment initiative aims to boost local production of semiconductors, displays, advanced chemicals, networking and telecom equipment, as well we batteries and electronics.
“There is a rise in demand for semiconductors. By 2030, Indian semiconductor demand will reach $110 billion. So by that time, it will be over 10% of global demand,” Das said. This is because India’s chip demand is increasing rapidly, almost at double the rate of the rest of the world.
India’s vision in terms of chip production is different from US and Europe as they want to bring cutting-edge chipsets, whereas India wants more mature chipsets. India’s large pool of engineers will help the country attract international investors and revive the local electronics industry.
ALSO READ: Garena Free Fire Redeem Max Codes for June 16, 2022: Get free weapon crates, diamonds and more
India is aiming to invest in not only LCD but also in OLED displays, which have become a very important aspect of smartphones these days. The main goal of India’s investment program is to develop a complete supply chain ecosystem.
Establishing 2 chip facilities and 2 display plants will cost around 10 billion dollars. 7 billion dollars will go to the electronics industry and the remaining 13 billion dollars will go towards affiliated services like telecommunications, networking, solar photovoltaic, sophisticated chemistry, and battery cells.
For all the latest Technology News Click Here