India's Semiconductor Revolution: 10-20 Chip Plants Needed by 2034

Ajit Manocha, Semi President and CEO, highlighted India's need for 10-20 semiconductor manufacturing plants over the next decade. The semiconductor ecosystem is attracting significant interest, especially from Taiwan, following the success of companies like Foxconn and Wistron in India. Semicon India 2024 will be held in Noida, showcasing over 250 companies.

India will need 10-20 chip manufacturing plants over the next decade, Semi President and CEO Ajit Manocha announced on Wednesday.

Manocha noted growing interest in the semiconductor ecosystem, particularly from Taiwan, following the success of companies like Foxconn and Wistron in India.

He estimated that India's semiconductor industry would require 10-20 fabs in the next ten years, indicating substantial investment opportunities.

Semi is set to organize the first global conference on the semiconductor ecosystem, Semicon India 2024, from September 11-13 in Noida, featuring over 250 companies and 650 booths.

With over 40 years of industry experience, including stints as CEO of Global Foundries and an executive role at NXP Semiconductors, Manocha emphasized a favorable policy environment under the current government, bolstered by geopolitical advantages and strong investment potential.

Current investments in wafer fabrication and chip packaging plants by companies like Tata Electronics, Micron, CG Power, Suchi Semicon, and Kaynes Technologies are critical to attracting further global investment.

Manocha highlighted that AI is now driving two-thirds of the growth in the semiconductor sector.

(With inputs from agencies.)