Terming the semiconductor industry as vital sector for international business, Secretary, Ministry of Electronics and Information Technology, S Krishnan said India has the talent and deep expertise to become a global player in the field.
Addressing a conference organized by fabless semiconductor firm iVP Semiconductor Pvt Ltd in Chennai on Saturday, he said the central government was helping industries to create the ecosystem to build the semiconductors in the country.
“The semiconductor industry is vital for the country and India has the talent, deep expertise and scalability to be a global player. The Government is helping the industry to create the ecosystem to build semiconductors” the government official said.
It has been predicted that the semiconductor industry would become a trillion-dollar industry worldwide by global firm, while India Electronics and Semiconductor Association (IESA) thinks that the sector would touch USD 100 billion by 2030.
India is one of the biggest growing markets for electronics, automotive, Electric Vehicles. It is also emerging as a significant hub for technical expertise.
Krishnan also observed that iVP Semiconductors Pvt Ltd plays a significant role in creating demand to fill up the manufacturing capacity in wafer fab.
“I would like to congratulate iVP Semiconductor on the creation of an Indian fabless chip company,” he was quoted as saying in the reports.
Speaking on the occasion, iVP Semiconductor Pvt Ltd Co-founder Raja Manickam said the company secured a USD 5 million pre-series A funding and has plans to set up a production test facility in Chennai and in other parts in southern India.
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Meanwhile, a report has said the semiconductor industry in India would face a shortage of 250,000 to 300,000 professionals across various verticals, including research and development (R&D), manufacturing, design, and advanced packaging in the next two-to-three years.
It said with India planning to secure a major portion of the global semiconductor manufacturing market, the government has approved projects worth crores in the sector.
