In 2022, five companies submitted chip and display investment plans to India, with a total amount of about US $20.5 billion From Government of India
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On February 20, the Indian government said it had received plans from five companies to manufacture various chips and displays locally, with a total investment of about US $20.5 billion. Vedanta, Singapore IGSS ventures and ISMC, which have established a joint venture with Foxconn, have proposed a total investment plan of about US $13.6 billion to locally manufacture chips that can be used for 5g devices to electric vehicles and other products. The three companies have applied to the Indian government for $5.6 billion in subsidies under their plans.
Pictured: a chip lab in Bangalore, India
“Despite the tight time for submitting applications in the emerging field of semiconductor and display manufacturing, the plan has attracted good response,” the Ministry of electronics and information technology said in a statement
In addition, Vedanta and elest have submitted plans for the construction of display factories totalling about US $6.7 billion and applied to India for us $2.7 billion in subsidies.
It is estimated that the scale of Indian chip market will reach US $63 billion in 2026, compared with us $15 billion in 2020. It is predicted that the global chip shortage may continue until the beginning of 2023, and the market demand in 2022 may still be higher than long-term expectations.
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