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India Said to Invest $30 Billion in Chip Supply Chain and Technology Sector

Update time : 2022-06-17 16:43:22

India will spend $30 billion to overhaul its technology sector and establish a chip supply chain to ensure it is not "held hostage" by foreign suppliers, Gourangalal Das, director general of the India-Taipei Association, told Nikkei Asia.

According to Nikkei Asia 16 reported, Das said that the main goal of India's $30 billion initiative is to establish a complete supply chain ecosystem. About $10 billion of this will be used to build two chip factories and two display factories. About $7 billion is planned for the electronics industry, including manufacturing giants such as Foxconn, and fellow iPhone assembler PEGATRON. The remaining $13 billion will be used for "ancillary services such as telecommunications, networking, solar photovoltaics, advanced chemistry and batteries.
In the chip sector, Das said, "By 2030, India's semiconductor demand will reach $110 billion. It will account for more than 10 percent of global demand by that time." "We need some assurance that our demand for semiconductors will not be constrained by the vagaries of the supply chain - which is what we saw during the epidemic."
In addition to a large domestic market, Das believes that India has a large pool of engineers that will help the country attract foreign investors and overhaul the local electronics industry.

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