NEW DELHI: Key Announcements in the Semiconductor Sector During Prime Minister Narendra Modi's United States Visit to Create Thousands of Jobs in India.
Yes, the semiconductor sector witnessed three significant announcements during Prime Minister Narendra Modi's visit to the United States, which are expected to generate a minimum of 80,000 to 1 lakh direct jobs in India, according to Rajeev Chandrasekhar, Union Minister of State for Electronics and IT.
Addressing a press conference, Minister Chandrasekhar emphasized that investments in the semiconductor sector would not only result in the creation of several thousand direct jobs but also contribute to the growth of the overall supply chain, leading to additional indirect employment opportunities.
Over the past two years alone, the electronics industry has already created a remarkable 10-12 lakh jobs. The recent announcements, particularly Micron's decision to manufacture memory chips in India, mark a significant milestone for the country. Minister Chandrasekhar expressed his optimism regarding the creation of at least 80,000 to 1 lakh new direct jobs through these initiatives.
Micron's Investment in Gujarat: On Thursday, Micron Technology, a US-based company, unveiled its plan to establish a state-of-the-art semiconductor assembly and test facility in Gujarat, with a total investment of $2.75 billion. This announcement came shortly after Prime Minister Modi's meeting with Sanjay Mehrotra, the Indian-American President and CEO of Micron, in Washington D.C.
Micron's project will be executed in two phases, with a total investment of up to $825 million. It is expected to generate around 5,000 new direct jobs at Micron and create 15,000 community jobs in the coming years.
Applied Materials' Collaborative Engineering Centre: Another US-based semiconductor company, Applied Materials, has also unveiled its plans to establish a collaborative engineering centre in India. With an investment of $400 million over the next four years, this initiative aims to foster innovation and technological advancements in the country's semiconductor industry.
Training Program by Lam Research- Lam Research, a leading US supplier of wafer-fabrication equipment and related services to the semiconductor industry, announced a comprehensive training program in India. This initiative intends to provide training to up to 60,000 high-tech engineers, further enhancing their skills and expertise in the semiconductor domain.
Minister Chandrasekhar emphasized that the recent announcements during Prime Minister Modi's US visit reflect India's rapid growth as a significant and trusted partner in the global electronics and semiconductor value and supply chain. The government's semiconductor vision, along with the planned investment of Rs 76,000 crore, has yielded substantial progress in building India's semiconductor ecosystem over the past 18 months.
Minister Chandrasekhar believes that the fields of semiconductors, AI, quantum, and high-performance computing will present abundant opportunities for Indian youth in the "Techade." They can collaborate with US startups and research institutions on a global scale, contributing to shaping the future of technology.
The three key announcements made in the semiconductor sector during Prime Minister Modi's US visit hold great promise for job creation in India. The investments and initiatives by Micron Technology, Applied Materials, and Lam Research will not only generate direct employment opportunities but also strengthen India's position in the global semiconductor industry.
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