Indian Prime Minister Narendra Modi held a productive meeting with leaders of Tata Sons and Powerchip Semiconductor Manufacturing Corporation (PSMC) about their ongoing semiconductor projects in Gujarat. PSMC expressed enthusiasm for expanding its presence in India, after Modi laid the foundation stones for three chip fabs earlier this year. Stay updated on all the latest business news and stock market updates, as well as ways to save money through our Personal Finance coverage, by subscribing to Zee Business on social media.
Narendra Modi's Focus on Semiconductor Manufacturing
Indian Prime Minister Narendra Modi has been actively promoting the development of the semiconductor industry in India. Recently, he met with leaders of Tata Sons and Powerchip Semiconductor Manufacturing Corporation (PSMC) to discuss ongoing semiconductor projects in Gujarat.
Gujarat as a Semiconductor Hub
Gujarat has emerged as a key hub for semiconductor manufacturing in India. Earlier this year, Modi laid the foundation stones for three chip fabs in the state. These fabs will be operated by Intel, Vedanta, and Foxconn.
PSMC's Expansion Plans
Taiwanese multinational PSMC, the world's largest semiconductor foundry, has expressed interest in expanding its presence in India. The company is considering establishing a chip fab in Gujarat to meet the growing demand for semiconductors.
Significance for India
India currently imports a significant portion of its semiconductor requirements. Modi's focus on domestic semiconductor manufacturing aims to reduce this dependency and boost the country's technological capabilities. Additionally, it will create new jobs and economic growth.
Top 5 FAQs on Semiconductor Manufacturing in India
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