India becomes more active in supporting the development of the semiconductor
To promote the exchange and cooperation between the semiconductor industries of India and Taiwan, the India Taipei Association (ITA), the Ministry of Electronics & IT (MeitY), the India Semiconductor Mission (ISM), and the SEMI International Semiconductor Association jointly held the India-Taiwan Semiconductor Summit on the 30th. The forum not only discussed the current state and future prospects of India's semiconductor industry but also explored opportunities for future international cooperation in depth.

Due to geopolitical influences, global economic and trade landscapes are shifting, with supply chains being reorganized and industrial layouts and economic structures undergoing changes. Since 2021, the Indian government has introduced the India Semiconductor Mission (ISM) incentive program to attract foreign investment and local technological cooperation to promote the development of the semiconductor and display manufacturing industries and to formulate long-term strategies. The Indian government, besides providing substantial policy incentives, is also leveraging the country's strong economic growth and demographic dividend in recent years to invite semiconductor companies from Europe, the US, Japan, and Taiwan, aiming to make India the next global semiconductor manufacturing hub. Supported by the government's strong backing, along with emerging applications and digital demand, India's semiconductor market is expected to surpass $55 billion by 2026. PwC also predicts that by 2030, the value of the local electronics manufacturing industry will exceed $300 billion. In light of this, the forum highlighted the Indian government's strategic plan to position the country as the next semiconductor powerhouse, with special invitations extended to the Ministry of Electronics & IT and the India Semiconductor Mission to discuss the market prospects, development opportunities, and current state of India's semiconductor market with Taiwanese semiconductor and electronic technology companies, deepening bilateral industrial cooperation between India and Taiwan.

In his opening remarks at the forum, Manharsinh Laxmanbhai Yadav, President of the India Taipei Association, stated that "IT" symbolizes the bilateral relationship between India and Taiwan, with the two economies being complementary. India and Taiwan each have strong advantages that can enhance each other. For example, India's robust innovation design capabilities and talent can be realized through Taiwan's excellent production and manufacturing capabilities, benefiting both innovative societies.

The successful hosting of the India-Taiwan Semiconductor Summit has opened a new chapter for the cooperation and development of the semiconductor industries on both sides, promoting closer exchanges and collaboration. With joint efforts, it is believed that India will become a significant force in the global semiconductor industry. Together with Taiwan, they will inject new impetus and vitality into the global semiconductor market, establishing a new landscape for the semiconductor industry.