Telecom, IT and Rail Minister of India, Ashwini Vaishnaw, announced that he expects two to three major semiconductor investments in India, immediately after the general elections this year.
“In the coming few months, immediately post elections — we can see maybe two to three major new projects,” Vaishnaw made the announcement, in an exclusive conversation with CNBC-TV18, on the sidelines of the World Economic Forum (WEF) 2024 in Davos, Switzerland.
He said that the confidence in India as a semiconductor destination was very different from what it was a few years ago. He noted how India handled the Micron investment had inspired a lot of confidence among global players. Additionally, he cited how the interest shown by the likes of Applied Materials and AMD, had further strengthened India’s image.
He further added, “It is a new industry for us. India has been strong in design, but manufacturing is new to us. People are watching carefully how India is moving. PM Modi gave us a 20-year time frame. We have put a huge focus on the broader ecosystem.”
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