Foxconn on Friday said it is optimistic about the direction of India’s semiconductor roadmap, and asserted that Taiwan is and will be India’s most trusted and reliable partner.

“Let’s do this together,” Young Liu, Chairman of Foxconn, said addressing Semicon India 2023. Foxconn is the world’s largest contract electronics manufacturer based in Taiwan.

Building an ecosystem for chips in India is “for very brave”, he said adding, “Where there is a will, there is a way”.

Lauding the determination of the Indian government in this regard, Liu expressed optimism about where the nation is headed on its semiconductor journey. “Taiwan is and will be your most trusted and reliable partner…Let’s do this together,” he said.

Inaugurated by Prime Minister Narendra Modi on Friday, the ‘Semicon India 2023’ inaugural programme will highlight investment opportunities in India’s semiconductor sector through an informative presentation and a stimulating panel discussion led by industry.

According to a press release, the event aims to catalyse the semiconductor industry’s progress through networking, technology demonstrations and lucrative business prospects.

Speaking at the event, Ajit Manocha, President and CEO, SEMI, said: “Throughout my career, I have been asked whether India is ready to be part of global semiconductor industry. Today, I can say the journey has begun. For the first time, geopolitics, domestic policies and private sector capacity are aligned in India’s favour to become a player in semiconductor production.”

He added that the current semiconductor industry is likely to grow to $1 trillion and that India would be the next powerhouse in semiconductors in Asia.

Mark Papermaster, EVP and CTO at AMD, said the company will invest $400 million in the next five years and enhance its R&D capabilities. “We will build our largest design centre in Bengaluru,” he announced.

Prabhu Raja, president of Semiconductor Products Group at Applied Materials, lauded PM Modi’s vision to develop manufacturing. “India is poised to play an important role in the global semiconductor industry. We firmly believe this is India’s time to shine.”

“No company or country can overcome challenges in the sector alone. It’s time for collaborative partnership in this sector. This new collaborative model can provide us to be a catalyst in the sector. I would like to thank you for considering us a valuable partner in India’s semiconductor vision,” Raja added.

Sanjay Mehrotra, CEO of Micron Technology, echoed similar sentiments. “I thank PM Modi for his vision to make India a global hub for semiconductors. Micron is committed to build a semiconductor assembly and test facility in Gujarat. We estimate that our project in Gujarat will create nearly 5,000 direct jobs and additional 15,000 jobs in the community. We are hopeful that this investment will help catalyse other investments in the sector,” he said.

During the three-day conference ending on July 30, experts in the fields of semiconductor chip, display fab, chip design and assembling will gather to share their knowledge and perspectives on emerging opportunities in India.

Foxconn, Micron, AMD, IBM, Marvell, Vedanta, LAM Research, NXP Semiconductors, ST Microelectronics, Grantwood Technologies, Infineon Technologies, Applied Materials, and other prominent companies in the sector will participate in the event.

Notably, the Gujarat government signed a memorandum of understanding (MoU) worth Rs 22,500 crore with semiconductor chip giant Micron Technology to establish an Assembly, Testing, Marking, and Packaging (ATMP) facility in the state.

During PM Modi’s recent visit to the United States, President Joe Biden announced the establishment of a state-of-the-art semiconductor facility by Micron Technology Inc in India.

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