We aspire to have 10 fabs: India Semiconductor Mission CEO
New Delhi: India aspires to have 10 semiconductor manufacturing plants in the next next 10 years ,but the nature of support from the government may vary based on the development in the industry, a top official of the India Semiconductor Mission said on Monday.
Speaking at a joint presser of mobile devices industry body ICEA and Semicon India organiser Semi, Akash Tripathi said, while setting up Indian Semiconductor Mission (ISM), it was envisioned to get two or three semiconductor manufacturing plants, two or three display fabs and various compound semiconductors.
"10 years down the line there will be projects that will be operational, producing semiconductors, the ecosystem will be developed, then things will be different. Aspiration-wise, we would like to have 10 fabs," Tripathi said.
The government has received 20 proposals for setting up semiconductor units including the chip packaging plants.
Tripathi said that all the proposals are at different stages of approval.
He said that the government has approved five projects entailing investment of Rs 1.52 lakh crore.
Tripathi said that Micron's pilot facility has started rolling out chips from May onwards, which is almost six months before the committed timeline of December 2024.
Semi President and CEO Ajit Manocha said that every job created in a fab will lead to creation of five jobs in supporting units.
He said that it took 60 to 70 years for the semiconductor industry to get to $600 billion in revenue and in the next seven years it is going to nearly double to $1 trillion.
India will host the first global semiconductor industry event, Semicon India 2024, from September 11 to 13.
The Semiconductor Executive Summit (SES), co-organized by ICEA (India Cellular & Electronics Association) and SEMI in collaboration with the Ministry of Electronics and IT (MeitY) and India Semiconductor Mission (ISM), will be held on 10th September 2024 at Bharat Mandapam in New Delhi.
"The participation in the upcoming Semicon India is four-five times more than we anticipated. More than 250 companies from 24 different countries are participating in Semicon India 2024," Manocha said.
ICEA chairman Pankaj Mohindroo said that "The Semiconductor Executive Summit and SEMICON India 2024 will highlight the focus required to create a lasting impact on the global semiconductor industry. India has all the right ingredients, including strong policy support and the willingness to lead. Now, we need to fire on all cylinders."