India Approves New Semiconductor Projects Worth $414 Million
New Delhi: India has given the green light to two new semiconductor projects, with an investment of $414 million. This move is part of the government’s goal to position India as a leading player in the global electronics market.
The two projects include a facility for LED displays and a semiconductor packaging unit. The approval came late Monday, bringing the total number of semiconductor facilities in India to 12, with an overall investment amounting to about $17.2 billion.
Since launching its initiative to boost domestic chip production in 2021, the Indian government has supported various fabrication, design, and packaging projects, aiming to reduce reliance on imports and enhance local supply chains.
Prime Minister Narendra Modi highlighted that these projects are steps toward making India a key part of the global semiconductor value chain. He noted that advancements in this sector will drive economic growth, foster technological independence, and promote innovation within the country.
The LED project aims to establish a comprehensive facility for creating mini and micro display modules, while the packaging unit will serve the automotive, industrial, and electronics industries.
According to the government, these initiatives will significantly enhance India’s semiconductor landscape and align with the growing capabilities in chip design emerging across the nation.
India’s semiconductor market has seen substantial growth, increasing from about $38 billion in 2023 to an expected $45-$50 billion by 2024-2025. The government aims for the market to reach $100-$110 billion by the year 2030.
Several previously approved projects have started production, with two of them already making commercial shipments.
