Prime Minister Narendra Modi’s vision to make India a global hub for semiconductors is expected to drive significant economic growth for the country. Sanjay Mehrotra, chief of Micron Technology, expressed his belief in India’s potential during the Vibrant Gujarat Summit. Micron Technology, a US chipmaker, is set to construct a semiconductor testing and packaging plant in Gujarat’s Sanand industrial area, with an investment of $2.75 billion.
Mehrotra highlighted the importance of memory in the advancement of artificial intelligence and praised Micron’s plans to establish a world-class memory assembly and test facility in Gujarat, the first of its kind in India. He emphasized the tremendous opportunity that lies ahead for India in the semiconductor industry and how the Vibrant Gujarat summit can support the country’s growth as a semiconductor powerhouse.
India is actively working to attract major semiconductor players to establish chip fabrication and assembling plants within the country. The government has implemented a $10 billion subsidy program to incentivize foreign investments. Although advanced economies such as the US, Germany, the European Union, and Japan have also introduced substantial subsidy programs to attract semiconductor investments, India offers a unique opportunity due to its vast market potential and lower labor costs.
The Vibrant Gujarat Summit, now in its 10th edition, serves as a crucial platform for promoting business collaborations, knowledge sharing, and strategic partnerships to drive growth and sustainable development. With Narendra Modi’s leadership, the summit has successfully positioned Gujarat as a center for economic growth and sustainable development.
This year’s summit, under the theme “Gateway to the Future,” aims to showcase Gujarat as a global leader and attract investments across various sectors. The international participation in the summit reflects the state’s commitment to fostering global collaboration and attracting foreign investments.
Narendra Modi’s ambitious vision for semiconductors, coupled with the efforts of the Indian government and private industry, is set to propel India forward as a global player in the semiconductor industry, contributing significantly to the country’s overall economic growth and development.
The source of the article is from the blog japan-pc.jp