In a groundbreaking development for India's semiconductor industry, Foxconn, a key supplier for Apple, has announced its intention to invest a staggering $600 million in two major projects in Karnataka, India. These projects will focus on manufacturing iPhone case components and semiconductor manufacturing equipment. As India continues its efforts to position itself as a global semiconductor and hardware manufacturing hub, this significant investment from Foxconn comes as a promising boost for the country's ambitions.
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Explore India's remarkable semiconductor journey, from its early scientific temper-driven efforts to its recent strides towards Aatmanirbharta. Discover valuable lessons from the past that guide India's path to becoming a self-reliant semiconductor hub, as it forges global partnerships and nurtures its electronics ecosystem.
Odisha is well-positioned to become a major hub for VLSI manufacturing. The state has a strong industrial base, a skilled workforce, and a favorable investment climate. Additionally, Odisha is located in the eastern part of India, which is home to a number of major semiconductor consumers.
The incentives include a 50% capital subsidy for the establishment of semiconductor fabs, as well as a 25% capital subsidy for the establishment of display fabs. The incentives also include a waiver of import duties on capital goods and raw materials, as well as a tax holiday for the first five years of operation.
India's manufacturing sector is experiencing a notable boom, attracting attention from investors and economists alike. With favorable government policies, a growing skilled workforce, and a vast domestic market, the country has emerged as a manufacturing powerhouse on the global stage. Industries like automobiles, electronics, pharmaceuticals, and textiles have witnessed substantial growth, bolstering India's economic prospects.
Mitsubishi Electric has expanded its semiconductor lab program in India, adding three new institutions to the program. The program provides students with hands-on training in semiconductor technology, and helps to prepare them for careers in the semiconductor industry.
In a significant development for India's semiconductor industry, the Vedanta-Foxconn joint venture has resubmitted its application for a silicon fabrication plant.
India is poised to achieve a major milestone in its technological advancement journey with the upcoming launch of its first semiconductor fabrication plant. The move is expected to boost the nation's efforts towards achieving chip self-reliance, reducing dependency on imports, and fostering innovation in the semiconductor industry.
The HCL Group is exploring a $300 million venture in India's booming semiconductor industry. The company is planning to set up an assembly, testing, marking, and packaging (ATMP) facility for semiconductors. The project is expected to create over 1,000 jobs and boost India's chip manufacturing capabilities.
