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India's future dreams in Semiconductors & AI
November 01 - 30, 2024
|BUSINESS ECONOMICS
A midst the gloom of the RG Kar affair or the Tirupati laddu scam or even the continued terrorist attacks in Jammu & Kashmir, even after the completion of the first general election in the state, we find hope and encouragement when the founder of Nvidia, Jensen Huang, in his recent visit to India says "India will be a gigantic opportunity for us".
India's dream of becoming a global hub for manufacturing semiconductors was ignited with the setting up of the India Semiconductor Mission (ISM) under the Digital India Corporation. Under the programme, the Prime Minister recently announced to set up three semiconductor manufacturing units - two in Gujarat and one in Assam valued at 1.25 lakh crore. This came after the signing of the MOU between the US President Biden and Prime Minister Narendra Modi on the Semiconductor Supply Chain and Innovation Partnership last year. The MOU brought in promises of US IT giants like Micron Technology, Foxconn, Corning and others to invest heavily in semiconductors and allied equipment in India in partnership with Tata Electronics, Reliance, Vedanta, L&T and Murugappa.
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