IMEC (Interuniversity MicroElectronics Centre), Belgium-based semiconductor research organization has agreed to provide technical support to create a semiconductor ecosystem in India. According to officials from the Ministry of Electronics and Information Technology (Meity), IMEC will also develop talent and research abilities in the country.
Last year in December 2021, the government approved a Rs 76,000-crore-PLI-scheme to boost semiconductor and display manufacturing in the country. The aim of the government is to make India a global hub for hi-tech production and attract large chipmakers around the world. So far, according to Meity minister Ashwani Vaishnaw, the scheme had received five applications for semiconductor and Display Fabs with total investment to the tune of $20.5 billion (Rs 153,750 crore).
Three companies including Vedanta in JV with Foxconn, IGSS ventures pte, Singapore and ISMC have submitted applications for semiconductor fabs. The official also said nearly 65% of semiconductors are used in electric vehicles, power, and telecom equipment and these industries demand big and mid-sized nodes. Therefore, there is a huge market for bigger process nodes and a significant market for mid-sized nodes.
In between this, Foxconn met Prime Minister Narendra Modi to expand its India’s operation. The Taiwan-based firm had signed a memorandum of understanding with Vedanta Group in February to form a joint venture company to set up an electronic chip manufacturing plant in India.
