India’s Semiconductor Surge: Aiming for Self-Reliance
India could save up to $20 billion by boosting its semiconductor industry, says McKinsey. Government incentives and global tech partnerships are pivotal. As India pushes for fabrication at 14-nanometer nodes, challenges like high costs and supply chain gaps persist.
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In a bid to lessen its dependence on imported semiconductor chips, India could potentially save between $10 billion and $20 billion, according to a recent McKinsey report. A combined effort of targeted government support and strategic alliances with global tech behemoths is necessary to foster growth in India's semiconductor sector.
The report stresses that this dual strategy is vital for India to secure its position in the global semiconductor market. "To harness this potential and cut import reliance, India needs a blend of government incentives and partnerships with international technology leaders," it stated.
Currently focused on design, India's semiconductor sector comprises roughly 20% of the worldwide design workforce and hosts R&D hubs for leading firms. Over the past year, several significant projects have been announced, indicating a strategic direction towards OSAT and legacy-node fabrication.
(With inputs from agencies.)
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