New Delhi, February 20: India is reversing the missed opportunities of the last 75 years and when it comes to semiconductors, China’s momentum is slowing down as they are not viewed as a trusted partner in the future of tech, Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, has stressed. Touching upon India’s evolving global position in comparison to China at a Mumbai event, particularly in semiconductors, Chandrasekhar noted a significant shift in momentum.

“There is a trend today that, in terms of China, the momentum they had over the last decade in the areas of emerging and high tech, is slowing down and becoming blunter because of all the export control regimes being put against them,” he told the gathering at the 'Mumbai Tech Week'. UP Global Investors Summit 2023: PM Narendra Modi Witnesses Samsung ‘Galaxy AI’ Features at Event in Uttar Pradesh.

“They are certainly not viewed as a trusted partner in the future of tech. I can confidently say that India is reversing the missed opportunities of the past 75 years,” the minister added. India now has two full-blown semiconductor fabrication plants, with $10 billion fab investments coming into the country after decades. “We are also partnering with the best partners for technology for the future of semiconductors,” the minister said.

“Along with the design innovation ecosystem on semiconductors, which is going to design the next-generation chips and devices, we are also launching India Semiconductor Research Centre which is going to be a state-of-the-art research center where the world’s biggest semiconductor makers will research in India,” the Minister informed. Paytm FASTag Likely To Stop Working After March 15: Check Details.

Last week, the minister announced that Assam will soon have its first-ever semiconductor packaging plant worth nearly Rs 25,000 crore built jointly by the state government and Tata Group. In September last year, US-based Micron Technology started the construction of an Rs 22,500 crore facility in Sanand, Gujarat that will set a benchmark for India’s semiconductor journey.

(The above story first appeared on LatestLY on Feb 20, 2024 02:25 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).