Santa Clara based Applied Materials announced on Thursday at SEMICON India, the country’s leading chip conference, that it will invest $5 billion in India over the next ten years to grow its footprint in the region.
“The world stands in utmost need of new and reliable manufacturing locations. I say with great responsibility that India is continuously preparing itself for this,” Prime Minister Narendra Modi said.
The announcement comes as India showcases its semiconductor ambitions at a three-day event in New Delhi, covering chip materials, design, fabrication, and packaging. The event drew over 600 companies and delegates from 52 countries.
Although Washington and Beijing have implemented reciprocal export bans on chip technology, India positions itself as a “trusted partner,” attracting companies seeking to diversify beyond Taiwan and China.
India has allocated over $21 billion through two major semiconductor incentive programs but is still a latecomer in the capital-heavy industry that nations like Taiwan have developed over many years.
Over the past five years, India has approved twelve projects under its incentive program, including three chip-packaging plants, one of which is operated by US-based Micron Technology.
By CEO NA Editorial Staff
