India's Commercial and Industrial, Consumer Affairs, Food and Public Distribution, and Textile Minister Piyush Goyal recently announced that India plans to produce its first semiconductor chip within the next two years. This declaration comes as several U.S. chip manufacturers, including Nvidia (NVDA), AMD (AMD), and Micron Technology (MU, Financial), are gearing up to expand their operations in India.
Goyal mentioned ongoing communication with the CEO of Micron Technology (MU, Financial), noting significant progress in their expansion efforts. Additionally, major Indian conglomerates such as the Tata Group are working towards realizing India's semiconductor ambitions. However, Goyal acknowledged that without expertise from firms like TSMC and Samsung, producing cutting-edge chips may be challenging.
India is seen as a promising hub for the semiconductor industry, bolstered by skilled talents and supportive government policies. Goyal cited his recent visit to Silicon Valley, where he observed numerous Indian professionals involved in various semiconductor companies. The Indian government, under Prime Minister Narendra Modi, is actively facilitating U.S. firms' expansion into India. Goyal expressed confidence that India will be able to deliver its first batch of chips by 2026-2027.
