Semiconductor Imports Increase More than 18.5 Percent to Rs 1.71 Lakh Crore in India

In the last few years, the demand for semiconductors in the country has increased rapidly. In the last financial year, import of semiconductors increased by about 18.5 percent to about Rs 1.71 lakh crore. Semiconductors are used in many industries like automobiles and smartphones.

The central government has taken measures to increase the manufacturing of semiconductors. This will reduce dependence on imports. Some big business groups of the country have made tie-ups with foreign companies to increase the manufacturing of semiconductors. Recently Tata group had a tie-up with American semiconductor manufacturer Analog Devices. Tata Electronics, the semiconductor company of Tata Group, plans to invest $ 11 billion to build a laboratory in Dholera, Gujarat. Prime Minister Narendra Modi aims to make the country a major power in semiconductors. Due to tension between America and China, a big change is taking place in the semiconductor segment. India, Singapore and Malaysia are likely to benefit from this.

Tata Electronics, Tata Motors and Tejas Networks have signed this agreement with Analog Devices. Tata Electronics will also invest $3 billion in a plant in Jagirroad, Assam for assembling and testing semiconductor chips. Tata Electronics and Analog Devices will explore possibilities for manufacturing the American company’s products in a laboratory in Gujarat. Tata Motors plans to seek the help of Analog Devices in energy storage solutions in its passenger and commercial vehicle business and electronic hardware components for power electronics.

Recently an agreement related to semiconductors was signed with Singapore. Netherlands company NXP Semiconductors had reported investing more than one billion dollars (about Rs 8,400 crore) to double its Research and Development (R&D) in the country. NXP Semiconductors has four design centers in the country. About 3,000 workers work in these. Big companies like AMD and Nvidia have also set up research and design centers in the country. The country’s semiconductor market can reach approximately $63 billion by 2026. Adani Group also had a tie-up with Israel’s Tower Semiconductor to set up a semiconductor plant in Maharashtra. About 10 billion dollars will be invested in this project.