TIWN
New Delhi, Aug 26 (TIWN) Government's push for manufacturing of semiconductors in India is a much needed, long-term step, in the right direction, said SIAM President and Maruti Suzuki Managing Director & CEO Kenichi Ayukawa on Thursday.
Speaking at the 61st ACMA Annual Session, Ayukawa said: "The invitation by the government for 'Expression of Interest' for manufacturing semiconductors in India is a much needed, long-term step, in the right direction."
"I am sure global investors will take advantage of this opportunity in India. In the meantime, our partners from the component industry have to tackle the current challenge of semiconductor shortage, by deeply engaging with the chip suppliers." Besides, Ayukawa pointed out that semiconductor shortage is not just a challenge, but also an opportunity.
"Alongside automobiles, the demand for technology-based equipment has increased manifold. Of course, semi-conductor manufacturing requires very huge investments."
"Indian automobile industry alone cannot assure full viability of such an investment in semiconductor project. Hence there is a need for consolidation across sectors." Lately, the global semiconductor supply chain has become increasingly at risk due to several factors. It has impacted auto industry since last year and continues to be a big challenge.
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals