The semiconductor industry in India has witnessed significant developments in recent weeks. Rajeev Chandrasekhar, the former Minister of State for Electronics, IT, Skill Development, and Entrepreneurship, emphasized that it is the right time for India to become a major player in the semiconductor space.
He made these remarks as the Chief Guest at the Express Adda event in Mumbai on July 19.
Chandrasekhar applauded Micron’s investment in India, stating that it is a milestone and dismissed any concerns about Foxconn withdrawing from a joint venture with Vedanta.
During the discussion with Anant Goenka, Executive Director, Indian Express Group, and Anil Sasi, National Business Editor, The Indian Express, Chandrasekhar elaborated on India’s semiconductor journey.
He highlighted that the country is building a robust ecosystem, and it now possesses the largest pool of semiconductor talent, second only to North America.
Chandrasekhar also shed light on Micron’s investment in India, clarifying that it involves more than just packaging, and is a sophisticated area for innovation and performance.
Addressing the global chip shortage crisis during the Covid-19 pandemic, Chandrasekhar stressed that addressing the shortage requires not only fabs (front-end chip processing units) but also focus on packaging the chips at the backend.
He praised Micron for choosing to start a packaging unit in India, signifying a significant milestone for the country.
Chandrasekhar emphasized India’s long-term semiconductor strategy and how the country is positioning itself as a trusted and resilient partner globally while addressing domestic demand.
He acknowledged that the semiconductor journey requires patience and cannot be achieved through instant gratification.
Regarding Foxconn’s decision not to proceed with the $19.5 billion semiconductor joint venture with Vedanta, Chandrasekhar clarified that it was not a setback.
The joint venture’s inability to secure licensing of the 28 nm technology led to its withdrawal. However, Chandrasekhar expressed optimism as both Foxconn and Vedanta have now proposed their separate fabs, indicating the potential and opportunities in India’s semiconductor strategy.
During the event, Ankit Agarwal, MD of Sterlite Technologies, reaffirmed their commitment to invest in the fab, further highlighting the positive outlook for India’s semiconductor industry.
