India targets the semiconductor industry: Approves new projects worth over $400 million, aiming for domestic market size of $110 billion by 2030
India is intensifying efforts to develop its semiconductor industry, striving to become a global powerhouse. According to AFP on Wednesday, May 6, the Indian government announced that it has approved two semiconductor projects totaling more than 39 billion rupees (approximately 350 million euros, or $410 million).
These two projects include an LED display factory and a semiconductor packaging unit. Their approval will increase India's total semiconductor facilities to 12, with a combined investment of approximately $17.2 billion (around 14.7 billion euros).
It is reported that India began laying the groundwork for chip manufacturing in 2021. Since then, New Delhi has vigorously advanced the construction of a series of manufacturing, design, and packaging plants under a strategic framework, aiming to reduce dependence on imports and strengthen supply chains.
Prime Minister Modi stated that the two newly approved projects are "part of India’s effort to become a leader in the global semiconductor value chain." In a post on social media, he said: "Progress in India’s semiconductor sector will drive economic transformation, achieve technological self-reliance, and promote the development of an innovation ecosystem." The government noted in a statement that the LED project will build an "integrated compound semiconductor manufacturing facility" for producing micro- and sub-micron level display modules. Meanwhile, the packaging unit will serve multiple industries including automotive, industrial, and electronics sectors.
The Indian government says these projects will bring "significant momentum" to India’s semiconductor ecosystem and will "complement the country’s rapidly developing world-class chip design capabilities." Several new factories have already begun operations, with two having achieved commercial deliveries—marking new progress in this field.
India’s semiconductor market size has grown from $38 billion in 2023 to around $45–50 billion in 2024–2025, with the government targeting $110 billion by 2030.
In addition, it is worth noting that India is simultaneously advancing friendly cooperation with East Asian countries. On Wednesday, Vietnam’s President held talks with Indian Prime Minister Modi in New Delhi, focusing on discussions regarding trade and defense. The Indian Ministry of External Affairs stated that this meeting would "open new prospects for cooperation" between Hanoi and New Delhi.
Trade between the two countries reached approximately $15.8 billion in 2025. Vietnamese companies are also actively entering the world’s largest population market, such as electric vehicle giant VinFast.
Indian media reports that the two sides may discuss a contract worth around $700 million for the procurement of India’s "BrahMos" long-range cruise missiles, though no official details have been disclosed yet.
Source: rfi
Original article: toutiao.com/article/1864485598711808/
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