Lam Research to Invest ₹10,000 Crore in India: Ashwini Vaishnaw
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Synopsis
Lam Research, a US semiconductor company, is set to invest ₹10,000 crore in India, as confirmed by Minister Ashwini Vaishnaw. This investment highlights India's growing semiconductor market and the government's initiatives to boost the sector.
Key Takeaways
- Lam Research to invest ₹10,000 crore in India.
- Support for PM Modi's semiconductor vision.
- Investment follows previous educational initiatives.
- India's semiconductor market projected to reach $103.4 billion by 2030.
- Government incentives are driving sector development.
New Delhi, Feb 11 (NationPress) US-based semiconductor firm Lam Research will invest ₹10,000 crore in India, as revealed by Union Minister for Railways, Electronics and IT, Ashwini Vaishnaw, on Tuesday.
Last year, Lam Research Corporation made a commitment to enhance its global chip fabrication equipment supply chain by incorporating India.
“A significant milestone in our semiconductor journey: Lam Research has announced a substantial investment exceeding ₹10,000 crore in India,” Minister Vaishnaw shared on the X social media platform.
He added, “This is a tremendous endorsement of PM @narendramodi Ji’s vision for semiconductors.”
Previously, Lam Research Corporation allocated nearly ₹241 crore in software licenses aimed at training 2,800 students in collaboration with the Indian Semiconductor Mission (ISM) and the Indian Institute of Science, gearing up for a workforce ready for the future.
The establishment of a semiconductor manufacturing framework in India has been a crucial aspect of the ‘Make in India’ initiative, which has been a goal for over six decades.
With the introduction of the India Semiconductor Mission and the approval of five major projects, including initiatives by Micron, Tata Electronics, CG Power, and Keynes, a genuine semiconductor manufacturing base is being established in the country.
India’s semiconductor market is anticipated to soar to $103.4 billion by 2030, significantly contributing to the over $400 billion electronics market, as per the Indian Electronics and Semiconductor Association (IESA).
The government’s targeted incentives for fabrication facilities (Fabs) and outsourced semiconductor assembly and testing (OSATs), amplified R&D investments, and collaborative industry efforts are pivotal in advancing India’s semiconductor sector, backed by substantial investment commitments exceeding $21 billion from IESA member companies in the past year.
