The India Semiconductor Mission (ISM) is poised to become big over the next five years, as highlighted by Prime Minister Narendra Modi during his address at the India Today Conclave 2024. This mission represents a strategic initiative, aimed at bolstering India’s semiconductor ecosystem, a crucial aspect of modern technology.
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What does this mission entail, and why is it so pivotal?
Firstly, it’s essential to grasp the fundamental importance of semiconductors, commonly referred to as chips, in today’s world. Semiconductors serve as the backbone of virtually all electronic devices, powering everything — from smartphones and laptops to household appliances, and automobiles. The global semiconductor supply chain faced a severe disruption during the Covid-19 pandemic, underscoring the critical role the components play in various industries. With much of chip manufacturing concentrated in countries like Taiwan, Japan, Singapore, and China, the pandemic-induced shortage prompted nations worldwide to reassess their semiconductor strategies.
Against this backdrop, the ISM was launched on December 15, 2022 with the aim of establishing a robust semiconductor ecosystem within the country. This initiative, housed under the Digital India Corporation, is tasked with catalysing semiconductor manufacturing, packaging, and design capabilities in India.
As an independent business division, the ISM possesses the necessary administrative and financial autonomy to drive the program’s efficient implementation. Moreover, it boasts an advisory board comprising leading global experts in the semiconductor domain, ensuring strategic guidance and expertise.
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The Indian government’s commitment to fostering semiconductor development is underscored by its substantial financial incentives. In December 2022, a Rs 76,000-crore incentive package was announced to encourage the establishment of semiconductor and display fabs (fabrication plants) in the country. This financial backing aims to attract industry players and stimulate investment in semiconductor infrastructure.
Recent milestones indicate tangible progress towards realising the objectives of the ISM. The approval of projects such as Micron’s assembly, test, and packaging plant, as well as Tata Electronics’ semiconductor fabrication and testing facilities in Gujarat and Assam, and CG Power’s testing and packaging plant signifies a significant stride forward. These initiatives are poised to bolster India’s semiconductor manufacturing capabilities and contribute to the country’s technological self-reliance.
In conclusion, the ISM represents a strategic endeavor to position India as a key player in the global semiconductor landscape.
With substantial government support and industry partnerships, this initiative holds the promise of driving innovation, fostering economic growth, and enhancing India’s technological competitiveness on the world stage.
