India never disappoints: Modi to global chip firms

AMD to bet $400 mn in 5 years; others also commit India investment

- SOURABH LELE

With senior executives of over 50 leading semiconductor and electronics companies in attendance, Prime Minister W Narendra Modi on Friday pitched India as a trusted partner in the global chip supply chain, saying the country never disappoints anyone. India is rolling out the red carpet for the semiconductor industry, the PM said, referring to fast-paced policy reforms in the area. India has a market of scale and is filled with possibilities, he stated. "Whoever moves fast will get the first-mover's advantage," he said.

On the inaugural day of the second edition of the SemiconIndia global summit here, leaders of global majors, such as AMD, Micron Technology, Applied Materials, and Foxconn, committed investments in India's semiconductor ecosystem. While AMD announced an investment of $400 million (about ₹3,300 crore) in India over five years and opening of a 500,000-sqft R&D campus in Bengaluru, which it said is its largest in the world, Micron reaffirmed its commitment to establish the country's first semiconductor plant in Gujarat, creating 5,000 direct jobs and addressing demand from domestic and international markets.