Shulou(Shulou.com)11/24 Report--

CTOnews.com, July 26 (Reuters)-executives from Foxconn, Micron and AMD will all attend a meeting this week in the hometown of Indian Prime Minister Narendra Modi, as the Indian government tries to attract investment in the country's burgeoning chip industry.

▲ Pexels India hopes to build itself into a global semiconductor manufacturing center, with the goal that by 2028, the Indian chip market will be worth $80 billion (CTOnews.com Note: currently about 571.2 billion yuan), almost four times the current size of $23 billion (currently about 164.22 billion yuan).

But so far, Mr Modi's plan has been struggling. In 2021, the Indian government announced a $10 billion (currently about 71.4 billion yuan) domestic chip manufacturing plan, which attracted the interest of a number of companies, including Foxconn and local company Vedanta, but none of these proposals were realized.

Modi will hold the annual Indian Semiconductor Conference "Semiconductor India 2023" on Friday in Gandinagar, western Gujarat. Speakers during the three-day event will include Foxconn Chairman Liu Yangwei, Micron CEO Sanjay Mehrotra and AMD CTO Mark Papermaster.

CTOnews.com had previously reported that Foxconn decided to "fly solo" after withdrawing from a $19.5 billion chip joint venture with Vedanta (currently about 139.23 billion yuan) a few weeks ago, saying "the project is not moving fast enough" to press ahead with chip manufacturing plans in India. Micron announced in June that it would invest $825 million (currently about 5.891 billion yuan) to build its first chip testing and packaging plant in Gujarat, but would not produce chips.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.