(TheConservativeTimes.org) – India has spoken out saying that they are looking to be one of the top global chip producers in the world within the next five years.
Ashwini Vaishnaw, minister of electronics and information technology, railways, and communications, spoke out saying that India wants to be one of the top chip producers and continued to speak on the growing industry. In reference to the chip industry, Vaishnaw said it “is a very complex market, and global value chains and global supply chains are extremely complex in the current context. We think in the next five years, we will be among the top five semiconductor nations in the world.”
India jumping into the chip industry might be beneficial in many different ways as other countries are planning to steer away from relying on China. With India becoming another viable option for countries to trade with, they could have a successful place in the industry.
Qualcomm, which is a U.S. chip giant, has opened a design center in India that will focus on wireless technology design, creating more than one thousand jobs. “We started investing in India before it was popular. We have been building a presence in India for more than a decade now,” Qualcomm CEO said.
Officials believe that the chip industry could reach over a trillion dollars within just seven years; India can be a huge part of that as they ramp up production and are able to produce in larger quantities. Many say that the talent pool and the system to be able to handle this magnitude of chip production and technology advancement is in India, making it a top choice for chip manufacturing.
Companies all over the world have recently been looking at India for expansions and investments, which shows a trend that may push them to be a top contributor in many areas.
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