Lam Research to Invest ₹10,000 Crore in India: Ashwini Vaishnaw
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.
