A majority of Indian CEOs have called on the government to implement a comprehensive, long-term policy framework to establish the country as a global semiconductor hub within the next decade. As many as 66 percent CEOs identified the creation of a robust policy framework as the top priority emphasising the need for policies that support both advanced and emerging semiconductor technologies to secure India's position in the global semiconductor ecosystem, an MC-Deloitte CEO survey showed.
An exclusive Moneycontrol-Deloitte survey of 45 CEOs was conducted between Jan 10 and Jan 22 across financial services, consumer goods, technology, and energy sectors. The survey underscored the critical role of policy and infrastructure in propelling India's semiconductor vision.
Another significant area of emphasis was research and development. Over 61 percent of CEOs expressed the need for promoting R&D among domestic companies while supporting global R&D services to build a strong talent pipeline. The importance of education and training was also highlighted, with 43.2 percent recommending industry-specific curriculums to attract diverse talent.
In addition to policy frameworks, the CEOs highlighted other key areas of focus. These included accelerating the establishment of semiconductor manufacturing clusters, with 47.7 percent of respondents advocating for world-class facilities. Meanwhile, 54.5 percent suggested including the entire value chain—equipment, materials, and chemicals—as part of the overarching policy.
An equal 38.6 percent of the CEOs recommended financing support for the semiconductor ecosystem and implementing policies to attract diasporic talent into the ecosystem.
India’s efforts to position itself as a semiconductor hub align with its broader goal of reducing dependency on imports and meeting the growing domestic and global demand for chips. The MC-Deloitte CEO survey findings and government initiatives together highlight a concerted push towards making India a pivotal player in the semiconductor industry.
Prime Minister Narendra Modi had reaffirmed India’s commitment to advancing its semiconductor capabilities during the Semicon India 2024 event held in September. Speaking at the event, he had said that the world can bet on India when the chips are down, adding that it is the right time to be in the country. He had emphasised that India’s contribution of 20 percent to the global semiconductor talent pool positions the country as a key player in the industry. Modi underscored the government’s ‘360-degree approach’ to the chip industry and announced efforts to significantly increase semiconductor production.
Highlighting the country’s strategic advancements, Union IT Minister Ashwini Vaishnaw in September 2024 had said the government is working to develop a skilled workforce of 85,000 engineers and technicians over the next decade. This initiative is being supported by collaborations with 113 universities, academic institutions, and R&D organisations to design semiconductor-focused curriculums.
The Indian government has increased its budget for the semiconductor industry in recent years. Allocation for semiconductor and display manufacturing stood at Rs 6,903 crore for 2024-25.
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