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Rajeev Chandrasekhar: Companies from the US and Taiwan have applied to produce semiconductors in India

According to Rajeev Chandrasekhar, minister of state for electronics and information technology, businesses from the United States (US), Taiwan, and certain European nations have expressed interest in establishing semiconductor manufacturing facilities in India.

Word from Chandrasekhar

At a news conference, Chandrasekhar stated that he was unable to remark on the number of Taiwanese businesses that were either moving here or were not. That information will become available once the advisory group has evaluated the suggestions that we must have read about in the media.

Rajeev Chandrasekhar: Companies from the US and Taiwan have applied to produce semiconductors in India
credits – economictimes.indiatimes.com

Chandrasekhar continued saying that some Taiwanese businesses have already submitted applications, while others are expressing interest in doing so. However, the chip industry or semiconductor mission has proclaimed that all sectors of the semiconductor ecosystem are welcome to do business in and invest in India.

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Furthermore, he added that he is unable to provide us a specific figure in this regard, other than to state that he believes all chip businesses across all geographies will actively consider India for their semiconductor business. This includes Taiwanese companies as well as American, European, and other companies.

TSMC and Chandrashekhar

53% of the global foundry semiconductor market is controlled by Taiwan Semiconductor Manufacturing Corporation (TSMC). According to the sources, Chandrashekhar claimed that they had received proposals for semiconductors from numerous nations. The proposal was extremely intricate. There is now an evaluation and analysis of the suggestions. It will be released shortly once the advisory group has finished reviewing the suggestions.

Rajeev Chandrasekhar: Companies from the US and Taiwan have applied to produce semiconductors in India
credits – telecom.economictimes.indiatimes.com

In response to media claims that the government is considering outlawing Chinese mobile phones priced under Rs 12,000, the minister stated that no such proposal exists. Their goal is to help Indian brands, and for that to happen, they need to be present and have a market share. They will act against those who engage in unfair trade practices and attempt to undermine Indian brands and businesses.

Rajeev Chandrasekhar: Companies from the US and Taiwan have applied to produce semiconductors in India
credits – businesstoday.in

Previously, the minister released a report by ICRIER titled ‘Globalise to Localise: Exporting at Scale and Deepening the Ecosystem are Vital to Higher Domestic Value Addition’. Following the release of the report, the minister stated that significant changes are occurring in the global electronics value chains as a result of COVID, providing us with a chance to meet our $120 billion export goal.

Read More: What does this mean for travelers as domestic airfare limitations will no longer apply after 2 years?

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