Although late by many decades, global industry players are chipping in to push India closer to its semiconductor dream. On June 1, the India Semiconductor Mission reopened a fresh round of applications for setting up semiconductor and display fabrication units and seeking incentives. While other countries like China, Taiwan, and South Korea have already established themselves as semiconductor manufacturing hubs, India faces stiff competition on a global stage. To reduce dependence on imports, efforts should be made to develop a local value chain for semiconductor manufacturing, suggests Dey. The global semiconductor industry needs multiple manufacturing hubs and a diversified supply chain to maximise its growth.

Source: Forbes August 07, 2023 14:00 UTC