India Will Become Global Factory And Replace China Soon These 2 Good News Are Indicator

Efforts to make the country self-reliant in semiconductor matters have started getting success. Many foreign companies have prepared big plans for India and are going to make big investments in manufacturing in the coming days. This will not only help India become self-reliant, but will also strengthen its efforts to replace China as the world’s factory.

Good news came from here

The week has started with two good news on the manufacturing front for India. One good news has come from American semiconductor company Micron Technology Limited, while the other good news has come from Taiwanese contract manufacturing firm Foxconn. Micron is going to set up many semiconductor assembly and packaging plants in India in the coming time. These plants will be separate from the proposed fabrication unit.

Foxconn’s plan is like this

At the same time, Foxconn has prepared to double its investment and number of employees in India. Foxconn’s India Representative Wei Lee gave this information in a LinkedIn post on the occasion of Prime Minister Narendra Modi’s birthday. He told on Sunday that his company plans to double its investment in India in the next one year. Besides, the company will also double its workforce in the next 12 months.

Factory running in Tamil Nadu

Foxconn is the world’s largest contract manufacturing firm and Apple’s largest supplier. Till now, China has been the manufacturing hub for Foxconn, but now the Taiwanese company is focusing on India. The company is already running an iPhone factory in Tamil Nadu, in which about 40 thousand people are working.

China like level in few years

Foxconn is going to set up a plant in Karnataka. The Karnataka government had said last month that the company will invest $600 million and set up two plants in the state to make iPhones and chips. Young Liu, chairman and CEO of Foxconn’s parent company Hon Hai Technology Group, had said last month that India will achieve the level of ecosystem which it took China 30 years to build in a few years. He had also described India as the future of manufacturing.

Foxconn is also going to set up a chip manufacturing unit in India. Earlier the company had partnered with Vedanta for this and the location for the plant in Gujarat was also finalized, but later both the companies announced to move forward separately. Recently, a Bloomberg report claimed that Foxconn has found its own partner and has applied for government help for the semiconductor plant.

Micron’s plan is like this

Talking about Micron’s plan, information about it has been given by Minister of State for Electronics and Information Technology Rajiv Chandrashekhar. Micron had informed about its planned investment in India during the Semicon India 2023 event in July this year. The company had announced an investment of $800 million to set up a semiconductor assembly plant in India. This plant of the company is going to be set up in Sanand, Gujarat. The minister says that after the opening of the first plant, Micron will also set up many other plants in India.

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