India is focusing on its expansion in semiconductor chips and shifting to becoming an exporter of IT hardware products. With an increasing number of inputs, the government is now focussing on making the country an independent manufacturer of semiconductor chips. Below, we will share details about the current situation of the global chip market and India’s goal for the next five years. Let us look at India’s upcoming strategies for becoming one of the top five chip manufacturing companies.

Semiconductor

India expects to enter the top 5 chip manufacturing countries by the next five years. The government is working highly on promoting manufacturing domestically. Taiwan is the leader in chip manufacturing, with 46% of the global semiconductor industry. The other countries in the leading positions are China with 26% contribution, South Korea with 12%, the United States with 6%, and Japan with 2%.

India is dependent on China for its imports today. while China and America have been experiencing increasing tensions over time, leading to India and other countries reducing their imports from China. India imports over 40% of the mobile sector goods and around 77% of the laptops and PCs from China. Thus, we need to increase our manufacturing to make India self-dependent.

Qualcomm recently launched a chip design center in Chennai. At the same time, PM Modi is continuously attending the inaugurations of these semiconductor plants. The companies are establishing their businesses in India. People see it as an opportunity to invest, and India is a good choice for them. The setup of these plants will add 1600 new job vacancies. India will get more employment opportunities.

With the increase in the demand for semiconductor manufacturing in India, there is an increased need for semiconductor engineers. They will be working on adding the core and the final touch to the product. India is a developing country, and people are looking for more investments in the area. Semiconductors are used in several fields. Using the product in several segments can help India lower its product cost.

Vaishnaw mentions that India needs to improve its semiconductor manufacturing phase. However, the industry also has the potential to expand further and become a trillion-dollar industry. Chips play a crucial role and have to be increased to increase safety from cyber attacks. We hope you get enough details about the upcoming chip manufacturing units and India’s next goal above. Stay tuned for more information on our website.


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