Prime Minister Modi's US Visit Spurs Semiconductor Announcements, Anticipating Creation of Up to 1 Lakh Direct Jobs

                                     

Prime Minister Modi's US Visit Spurs Semiconductor Announcements, Anticipating Creation of Up to 1 Lakh Direct Jobs: Minister of State for IT

During Prime Minister Narendra Modi's visit to the US, three significant announcements in the semiconductor sector were made, which are expected to generate a minimum of 80,000 to 1 lakh direct jobs in India, according to Union Minister of State for Electronics and IT, Rajeev Chandrasekhar.

Speaking at a press conference, Minister Chandrasekhar highlighted that the investments in the semiconductor sector would also lead to the creation of several thousand indirect jobs in the overall supply chain.

He emphasized the importance of these announcements, such as Micron's decision to manufacture memory chips in India, stating that they mark significant milestones for the country's electronics industry. The minister estimated that these initiatives alone would result in the creation of at least 80,000 to 1 lakh new direct jobs.

Micron Technology, a US-based company, recently announced its plan to establish a $2.75 billion semiconductor assembly and test facility in Gujarat, following a meeting between Prime Minister Modi and Micron's Indian-American President and CEO, Sanjay Mehrotra, in Washington D.C. The project will involve an investment of up to $825 million over two phases and is expected to create up to 5,000 direct Micron jobs and 15,000 community jobs over the next few years.

Another US-based semiconductor company, Applied Materials, unveiled its intention to build a collaborative engineering center in India, with a planned investment of $400 million over four years.

Furthermore, Lam Research, a US supplier of wafer-fabrication equipment and services to the semiconductor industry, announced a training program in India aimed at upskilling up to 60,000 high-tech engineers.

Minister Chandrasekhar stressed that these developments are just the beginning, as India rapidly emerges as a significant and trusted partner in the global electronics and semiconductor value and supply chain. He also highlighted the progress made over the past 18 months since Prime Minister Modi's semiconductor vision was announced, along with the planned investment of Rs 76,000 crore to catalyze and develop India's semiconductor ecosystem.

The minister expressed his optimism about the opportunities that lie ahead for India's youth in the "Techade" sector, emphasizing the potential for collaboration with US startups and research institutions on a global scale. He believes that India has the potential to shape the future of technology in fields such as semiconductors, AI, quantum computing, and high-performance computing.

In conclusion, the announcements made during Prime Minister Modi's US visit signify the growing opportunities for India's youth to contribute to the country's technology sector and collaborate with global partners in shaping the future of technology.

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