India's New Semiconductor Policy Secures ~$12B in Investment Commitments

PANews, September 17 - According to Bloomberg, within months of launching its new semiconductor industry policy, India has secured cumulative investment commitments of approximately $12 billion from global and local companies, involving supply chain firms in chip equipment, materials, and chemicals. The momentum stems from India's announcement in July of an additional $13.4 billion semiconductor fund, layered on top of a previous $10 billion subsidy program, to support companies including the Tata Group and Micron in building wafer fabs and packaging/testing plants locally. India's Minister of Communications and Information Technology, Ashwini Vaishnaw, said the related investments will materialize over the next 2 to 3 years, with some projects already in production and capacity largely locked in. Tata Electronics also signed multiple cooperation agreements at the event with Nexperia, Fujifilm, and others, covering wafer manufacturing, packaging/testing, and localization of key materials.