India plans to become the largest chip manufacturing center

The Prime Minister noted that the Government of India recently announced the launch of the Semicon India Program with a total investment of $10 billion to provide financial support to companies -investors in the production of semiconductors, displays and other high-tech products. “The government will provide support for the development of this industry, whose products in value terms will reach 80 billion dollars by 2026.  India now accounts for 20% of the world skill science in microchip design and manufacturing and we are training their new generation today, said Narendra Modi.

Information Technology Minister Ashwini Vaishnav said at a conference that some of the world's largest manufacturers of semiconductor circuits intend to start their production in India and  the government is negotiating with their issues of providing production space.

At the end of last year, the leaders of the countries of the Quadripartite Security Dialogue (Australia, India, USA, Japan) announced a joint initiative to strengthen the supply chains of semiconductor microchips. The initiative aims to strengthen the security of semiconductor supply chains and their key components, and overcome the global chip shortage caused by the soaring demand during the coronavirus pandemic consumer electronics, primarily TVs, phones and game consoles, and also with an increase in demand for cars.