“Prime Minister Narendra Modi had once told me that IT stands for India and Taiwan. Taiwan is and will be your most trusted and reliable partner.
Let’s do it together,” Foxconn chairman Young Liu said at Semicon India summit here. Modi, who inaugurated the event, was present on dais, along with other top global executives from semiconductor industry.
“Creating an ecosystem for chips in India is for the very brave. But where there is a will, there is a way,” he said, highlighting the challenges in mastering one of the most complex manufacturing technologies. “I can feel the determination of the Indian government, and we are optimistic on where we are headed.” The statement is seen to be significant, given the push towards a China+1 strategy by global players and Taiwan’s problems with China.
Foxconn is fresh out of a break-up with Anil Agarwal’s Vedanta group where the two could not carry forward a project to set up a semiconductor factory in India. After moving out of the venture, Foxconn, however, has maintained that it remains committed to investments in India and “looks forward to growing alongside India’s nascent semiconductor industry”.
Liu spoke about the Taiwanese “buffalo spirit”, which has enabled the country to achieve global leadership in the semiconductor space. “The same spirit can be applied here,” he said, adding that the reliability of a nation is more important as it takes on a gigantic task as chip manufacturing. “Trust is important as India’s semiconductor work has just started.”
Others also support India’s chip-making bid. While Micron Technologies has made investment commitments, others heading globally renowned chip ventures such as Applied Materials expressed willingness to look at India’s semiconductor bid.
04:23
‘Taiwan is and will be India’s most trusted and reliable partner…’ Foxconn CEO Young Liu
Sanjay Mehrotra, president and CEO, Micron Technologies, said, “We estimate that our project in Gujarat will create nearly 5,000 direct jobs and an additional 15,000 jobs in the community. We are hopeful that this investment will help catalyse other investments in the sector.”
Global semiconductor industry association SEMI expressed confidence in the country’s potential. “For the first time, geopolitics, domestic policies, and private sector capacity are aligned in India’s favour for it to become a key player in semiconductor production… India will be the next powerhouse in semiconductors in Asia,” said Ajit Manocha, president and CEO, SEMI.
Anirudh Devgan, president and CEO of Cadence Design Systems, said, “We look forward to more indigenous product startups to drive the demand and consumption of semiconductors in India. Semiconductors are essential in digital transformation, and India can play a key role in driving the global market.”