New Delhi is concentrating on luring investments to support the nation’s developing semiconductor ecosystem. A new semiconductor assembly and testing facility will be built in India with the help of American businesses Micron Technology, Applied Materials, and Lam Research.
Source: Current Affairs- Adda 247
Micron Technology committed to investing up to $825 million in June, while Lam Research promised to train 60,000 Indian engineers and to invest $400 million in the establishment of a collaborative engineering centre. Recently, an agreement between India and Japan on the semiconductor supply chain was reached, and under the Critical Minerals Investment Partnership, projects involving lithium and cobalt are being developed by India and Australia.
Last month, Taiwanese giant Foxconn withdrew from a $19.5 billion joint venture with Indian mining firm Vedanta, putting an end to India’s dreams for the chip industry. The mishap highlighted how crucial partner compatibility and collaboration are to the success of large-scale initiatives.
Source: WION
The $10 billion in fiscal incentives being offered by the government to companies establishing chip-making plants in the nation can prove to be a game-changer, provided that ease of doing business is emphasised. The government must serve as a proactive enabler and facilitator. The dual objectives of Make in India and Make for the World need ongoing collaboration amongst many stakeholders. If India is able to lessen its reliance on Taiwan and China for pricey imports, half the battle would already be won.
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