PM Modi invites Micron Technology and Applied Materials to boost semiconductor manufacturing in India

In a bid to bolster semiconductor manufacturing in India, Prime Minister Narendra Modi has extended invitations to two major American chip makers, Micron Technology and Applied Materials. 

Micron Technology and a boost to Indian semiconductor industry

As per a statement by the Indian Ministry of External Affairs, “The prime minister invited Micron Technology to boost semiconductor manufacturing in India.”

Sanjay Mehrotra, the CEO of Micron Technology, expressed his enthusiasm for the opportunities that lie ahead in India. 

“We look forward to greater opportunities in India. Micron is a global leader in memory and storage, and we are a supplier for memory and storage in all end markets from data centres, to smartphones to PCs, and today really fuelling the AI engine as well,” said Mehrotra, as quoted by PTI.

Collaboration with Applied Materials

During a meeting with Gary E. Dickerson, the President and CEO of Applied Materials, Prime Minister Modi reportedly discussed the potential for the company to partner with academic institutions in India to cultivate a skilled workforce in the field of semiconductor manufacturing.

Following their meeting with the Prime Minister, Gary E. Dickerson expressed a strong desire to work alongside Modi and the people of India.

“We are very very much looking forward to working together with the prime minister and everyone of India to achieve tremendous success together.”

General Electric and the Indian aviation sector

During his meeting with H. Lawrence Culp, the CEO of General Electric (GE), Modi extended an invitation for the company to play a greater role in India’s aviation and renewable energy sectors. 

“Prime minister appreciated GE for its long-term commitment to manufacturing in India. The prime minister and Mr Culp Jr discussed GE’s greater technology collaboration to promote manufacturing in India,” said the Ministry of External Affairs statement.

India’s semiconductor sector

As per PTI, India has been actively promoting semiconductor development and has introduced a production-linked incentive (PLI) scheme for that. 

The country is gearing to position itself as an appealing investment destination for global semiconductor companies, and one of the most attractive locations in Asia for electronics and semiconductors.

In 2021, the Indian semiconductor market was valued at USD 27.2 billion, with an expected compound annual growth rate (CAGR) of nearly 19 per cent. However, the country does not currently manufacture any chips domestically.

Establishing semiconductor units, also known as fabs, is a highly specialized, complex, and expensive endeavour. These fabs require advanced technology, involve inherent risks, and demand long gestation and payback periods.

(With inputs from agencies)

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.