India to build 5-8 new semiconductor plants by 2034: Modi
What's the story
On the occasion of India's 80th Independence Day, Prime Minister Narendra Modi announced plans to set up five to eight new semiconductor plants in the country over the next seven to eight years. The announcement comes as part of a larger strategy to boost India's chip manufacturing capabilities and reduce reliance on foreign imports.
Strategic significance
Chips are crucial for electronics, transit networks
PM Modi stressed the strategic importance of semiconductor manufacturing for India's self-reliance mission, Atmanirbhar Bharat.
He said, "In today's digital world and technological landscape, we understand the immense importance of chips."
The Prime Minister highlighted their crucial role in electronics, medical devices, and transit networks.
"Without them," he warned, "the world would come to a standstill."
Operational facilities
Progress in India's semiconductor journey
Modi also highlighted the progress India has made in semiconductor manufacturing, with three operational facilities already exporting products.
He said these plants are a testament to India's commitment to becoming a global player in this sector.
The proposed five to eight new semiconductor plants will be a mix of fabrication, compound-semiconductor, and packaging facilities.
However, details about their locations, investments, production capacities, and the companies involved are yet to be revealed.
Mission details
Update on India Semiconductor Mission
The government's latest status report shows that 12 manufacturing units have been approved under the first India Semiconductor Mission, with a total investment of over ₹1.64 lakh crore.
Of these, three facilities (Micron, Kaynes and CG Semi) are operational while another is expected to start production by this year.
The first silicon fab under this program is expected to be commissioned in 2028.