Semiconductor
Semiconductors will be our biggest need in the coming times. Seeing this demand, PM Modi addressed SEMICON India 2024 on September 11 and also made a big appeal. He said that our dream is that every electronic device in the world will have a chip made in India. Within 24 hours of PM Modi’s statement, a big deal was signed to integrate semiconductors into the country’s ecosystem which will generate a lot of employment in the coming months. Which is also better for the country’s economy.
What’s that deal?
Global semiconductor body SEMI and its counterpart IESA have announced a strategic agreement to boost the industrial ecosystem in India. A joint statement said that under the agreement, the Indian Electronics and Semiconductor Association (IESA) will become part of SEMI. SEMI is the organiser of SEMICON events, including SEMICON India.
Ajit Manocha, President and CEO of SEMI, said this partnership will help SEMI build a stronger presence in this important emerging market and enable both organizations to identify concrete strategies that leverage our combined strengths to improve supply chain resilience. The statement issued on Wednesday said the agreement was signed during SEMICON India 2024.
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This agreement will benefit from
This agreement will also pave the way for joint policy advocacy efforts, where IESA and SEMI will work closely with the central and state governments to promote incentives for product development and manufacturing, and Production Linked Incentives (PLI) and Design Linked Incentives (DLI) will leverage the benefits of major programs such as the Design Linked Incentive (DLI) model.
IESA President Ashok Chandak said this achievement is a great win for India, SEMI and IESA. This will position India to become a global semiconductor powerhouse, accelerate economic growth and foster innovation.
