India to Become Powerhouse of Semiconductors, NXP to Invest More than USD 1 Billion R&D -lattestnews24

The demand for semiconductors has grown rapidly in the last few years. In India, the central government has planned to promote this segment. Recently, an agreement related to semiconductors was signed with Singapore. Netherlands-based company NXP Semiconductors has informed about investing more than one billion dollars (about Rs 8,400 crore) to double its research and development (R&D) in the country.

Kurt Sievers, CEO of NXP Semiconductors, said, “Our R&D efforts in the country will be doubled in the next few years. An investment of more than one billion dollars will be made for this.” He said that the company is in talks with the automotive sector and other industries. NXP Semiconductors has four design centers in the country. About 3,000 workers work in them. Big companies like AMD and Nvidia have also set up research and design centers in the country. India’s semiconductor market can reach around $ 63 billion by 2026.

Recently, Prime Minister Narendra Modi said at the Semicon conference, “India has about 20 percent share in chip designing talent for this industry and it is growing. A workforce of engineers, technicians and R&D experts is being prepared in the country.” In February this year, the government approved the construction of three semiconductor plants. An investment of about $ 15 billion will be made in these.

Last week, Adani Group, one of the biggest business groups, and Israel’s Tower Semiconductor tied up to set up a semiconductor plant in Maharashtra. An investment of about $10 billion will be made in this project. The government is encouraging international companies to set up manufacturing units in the country. Prime Minister Narendra Modi’s goal is to make the country a major power in semiconductors. The initial capacity of this semiconductor plant to be set up in Maharashtra will be 40,000 wafers. This will be Adani Group’s entry into a new segment. Adani Group has presence in businesses like ports and transmission. Due to tension between America and China, a big change is taking place in the semiconductor segment. India, Singapore and Malaysia are likely to benefit from this.

(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)