India held the first-ever Semicon India conference, during which semiconductor companies such as Applied Materials and ISMC announced investments in response to India's goal to build a semiconductor ecosystem.
According to The Economic Times and Financial Express, India held Semicon India in Bangalore, the capital of Karnataka, between April 29 and May 1. India's prime minister Narendra Modi said the government is aware of its role as an enabler and force multiplier and aims to build itself as a key partner in the global semiconductor supply chain.
Modi said India is home to 20% of the world's VLSI design engineers, and 250 design companies are operating in India, adding that 24,000 design engineers in India have designed more than 2,000 chips.
Ashwini Vaishnaw, India's minister of electronics and information technology, said that the government would approve semiconductor investments under the US$10 billion Semicon India Program in the next six to eight months. India has received three applications for semiconductor fabs, two for display fabs, four for packaging plants, and one for compound semiconductors investments. Besides, three companies are committing to IC design investments under Semicon India Program.
During the three-day Semicon India 2022, a number of companies announced their investments in India. The Economic Times reported that ISMC, a joint venture between Tower Semiconductor and Next Orbit Ventures, announced to invest US$3 billion to set up a 65nm chip-making facility in Mysuru, Karnataka.
Business Today reported that after investing US$50 million to purchase land in Whitefield, Bangalore, Applied Materials said it is investing INR3.4 billion (US$44,40 million) in India and will invest another INR15 billion (US$195 million) over the next few years.
According to Inc42, Qualcomm India has collaborated with India's Center for Development of Advanced Computing (C-DAC), in which Qualcomm will provide mentorship, technical training, and industry outreach to 10 Indian startups.
Furthermore, Business Standard reported that SEMI and India Electronics and Semiconductor Association agreed to explore collaboration opportunities in the semiconductor and electronics industry.
According to Indian government estimates, India's semiconductor market will reach US$80 billion in 2026 and US$110 billion in 2030.
