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India could be the premier destination for semiconductor tech, and we're very excited.

The scarce availability of semiconductor chips has recently shaken the world of tech. And with Intel CEO Pat Gelsinger cautioning that the semiconductor shortage is here to say, manufacturers and businesses are in a fix.

Semiconductor chips are essential in digital products. Pretty much all our tools, from mobile phones to laptops, TVs, medical equipment and more, require a semiconductor chip to function as intended. While the tech world is recovering from this harsh reality, all eyes are on India as the next hub of semiconductor tech.

The recently held SemiconIndia programme had the honourable Prime Minister Narendra Modi make an announcement that excited tech enthusiasts. India is on its way to becoming a technological powerhouse in the foreseeable future. It is by providing all support to companies that manufacture and produce semiconductors.

"India will soon establish itself as an integral part of global semiconductor supply chains. We plan to deliver high-tech, high quality and highly reliable technology worldwide. "

Why we're excited?

  1. India's exponential economic growth:

India's economic growth has boomed in the past decade. It is today the hub for the world's largest and fastest-growing startup ecosystem. With India's technological prowess and most startups in the tech sector, a large chunk of the semiconductors used would be within the Indian market. The estimated semiconductor consumption within India is expected to exceed $80 billion by 2026 and $110 billion by 2030. It is primarily due to the 'unicorn' startup culture that greatly benefitted India's economy.

2. India's digital infrastructure:

India is at an incredible pace in setting up technological networks. Connecting over 1.3 billion Indians would be possible with a thorough digital infrastructure. Though it doesn't sound easy, and it isn't, procedures have been devised to connect over six thousand villages with the internet. Much of India's technological energy has gone into understanding and developing 5G capabilities and clean energy. The next technological revolution is upon us, and India seems to be at the top from the get-go!

3. Extensive research & development:

Transforming any sector after an event is as disastrous as the COVID-19 pandemic is challenging. But this has also led innovators and entrepreneurs to discover new ways to solve problems and tackle various challenges in science, which led the Indian scientific community to invest in upskilling and training enthusiastic young Indians.

India has an exquisite semiconductor design talent pool with a number that is approximately a whopping 20% of the entire world's semiconductor design engineers. India's incredible statistics got the attention of Semicon 2022. Additionally, about 25 semiconductor design companies have set up R&D centres in India, aiming to placate the shortages as the days pass.

India's future as a tech hub:

SemiconIndia 2022 brought to light the various schemes and plans that will ease the semiconductor shortage and relieve tech companies of the pressure of a lack of semiconductors.

One such scheme is the "Production Linked Incentive". This scheme offers over $26 billion for research and development in 14 key sectors. PM Modi announced that the next half-decade could define India's technological prowess. It is also expected to see record growth in the future. In addition to the incentive scheme, PM Modi announced an outlay of over $10 billion to companies requiring financial support to produce, manufacture, package, distribute and design these digital ecosystems.

The world of tech in India could expect heavy involvement and assistance from the government. Technology will provide ample support and financial aid to the best of its efforts to any outfit in the tech industry that aims to work hard and deliver high-quality products. Thus, the government will be tightening its efforts and finances to see a boom in semiconductor device manufacturing.

The world of tech in India is seemingly growing at a rapid rate. In that regard, the PM has urged young and intrepid minds to seize the opportunity. India has been an incubator for avant-garde innovation and technological advancement in the last few years. This environment has further encouraged growth. India is soon becoming a tech superpower due to its appetite for risk and reward in the scientific space.

"We have shown that India means business", said PM Modi in a closing statement at SemiconIndia 2022. And that confidence has rubbed off on us all! In the march towards ultimate tech glory, India is undoubtedly making strides in the right direction and will see a new dawn in the years to come.


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