6 days ago

Piyush Goyal Invites Japanese Firms to Join India’s Semiconductor Boom

India wants more companies to build semiconductors in the country.

Commerce Minister Piyush Goyal invited Japanese businesses, especially from the Kansai region, to invest.

He said India has already helped bring billions of dollars into the semiconductor industry.

A new government program will provide $15 billion to encourage more investment.

India expects its semiconductor market to become worth $150 billion each year within five years.

Goyal also discussed training Indian workers for jobs in Japan.

He suggested cooperation in food processing and shipping as well.

The goal is for India and Japan to grow their businesses and skills together.

Key facts

First Semiconductor Mission: Seeded $10 billion and, with state government support, drew $20 billion in sector investment.
Semiconductor India Mission 2.0: Launched with a $15 billion government outlay.
Expected fresh investment: The government expects the new mission and matching state incentives to mobilize $50 billion.
Projected semiconductor consumption: India’s annual semiconductor consumption is projected to reach $150 billion within five years.
People-mobility proposal: Japan signalled willingness to welcome 300,000 Indians across various sectors.
Indian seafarers: Nearly 250,000 Indian seafarers currently serve on ships worldwide.
Mumbai training academy: Mediterranean Shipping Company agreed to establish a major seafarer training academy in Mumbai.

thehindubusinessline.com · 6 days ago