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The <keyword id="19924335" type="General" weightage="100" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> is set to create a massive 5 lakh jobs in the manufacturing sector over the next five years, spanning industries such as <keyword id="20009962" type="General" weightage="20" keywordseo="semiconductors" source="keywords">semiconductors</keyword>, <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> (EVs), batteries, and precision manufacturing. Tata Sons Chairman, <keyword id="19981536" type="General" weightage="20" keywordseo="N-Chandrasekaran" source="keywords">N Chandrasekaran</keyword>, made this announcement on Tuesday, underlining the critical role manufacturing will play in India’s ambition to become a developed nation. Speaking at a symposium organised by the Indian Foundation for Quality Management, Chandrasekaran highlighted that India’s progress depends heavily on its ability to generate <keyword id="22266334" type="General" weightage="20" keywordseo="manufacturing-jobs" source="keywords">manufacturing jobs</keyword>. He stressed that creating employment in this sector is crucial, given the influx of new workers entering the job market each month. “Through our investments in semiconductors, electric vehicles, precision manufacturing, and related industries, Tata Group expects to generate 5 lakh jobs over the next five years,” Chandrasekaran said as per a PTI report. He pointed to the group’s upcoming semiconductor plant in Assam and new manufacturing facilities for electric vehicles and batteries as significant contributors to this <keyword id="20268654" type="General" weightage="20" keywordseo="job-creation" source="keywords">job creation</keyword>. Chandrasekaran also talked about the broader impact of these initiatives, explaining that job creation in manufacturing has a multiplier effect, with numerous indirect employment opportunities arising from these projects. According to his calculations, for every direct job created in sectors like semiconductors, up to ten additional indirect jobs could emerge. The Tata Group’s investments will also spur the growth of small and medium enterprises (SMEs), with an estimated 5 lakh such businesses expected to form as part of the evolving ecosystem supporting these industries. While praising the government’s support for these initiatives, Chandrasekaran said that India’s vision of becoming a “Viksit Bharat” (developed India) cannot be achieved without substantial growth in manufacturing employment. “Every month, one million people join the workforce, and we need to create 100 million jobs,” he added, reinforcing the urgency of job creation in new-age industries. (With PTI inputs)

Tata Group will generate 5 lakh jobs in 5 years, says Tata Sons Chairman N Chandrasekaran

<keyword id="19986399" type="General" weightage="20" keywordseo="Tata-Electronics" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Electronics" meta.hostid="261" meta.entityid="Tata Electronics">Tata Electronics</keyword> on Thursday said it has concluded an agreement with Taiwan-based Powerchip <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">Semiconductor Manufacturing</keyword> Corporation, which will provide technology support for the Dholera wafer fab of the Indian tech major. As per the agreement, PSMC will provide design and construction support to build India's first AI-enabled greenfield fab in Gujarat, license a broad portfolio of technologies and provide engineering support to the fab unit. "We are pleased to partner with PSMC, whose technology and expertise will significantly accelerate our roadmap to pioneer semiconductor manufacturing in India. It will position us to play a key role in the growing semiconductor market to serve global customers," Tata Sons Chairman N Chandrasekaran said. The company is setting up a chip manufacturing unit in Dholera at an investment of up to Rs 91,000 crore ( about USD 11 billion). "<keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>'s multi-fab vision for Dholera is projected to create over 1,00,000 skilled jobs," the statement said. Tata Electronics' Dholera-based Fab will have a manufacturing capacity of up to 50,000 wafers per month. "This partnership represents a win-win situation, as it positions PSMC and the Taiwanese ecosystem to gain a significant first-mover advantage in the rapidly expanding Indian market while helping India achieve self-reliance in semiconductor manufacturing," Powerchip Group, Chairman and CEO of PSMC, Frank Huang said. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms" target="_blank">Airtel is using AI-powered technology to block spam calls and messages</a><a href="https://www.businessinsider.in/stock-market/webstories/diffusion-engineers-ipo-quick-review-ipo-gmp-risk-factors-and-more/slidelist/113687580.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/diffusion-engineers-ipo-quick-review-ipo-gmp-risk-factors-and-more/slidelist/113687580.cms" target="_blank">Diffusion Engineers IPO quick review – IPO GMP, risk factors and more</a><a href="https://www.businessinsider.in/stock-market/news/manba-finance-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113667907.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/manba-finance-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113667907.cms" target="_blank">Manba Finance IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Tata Electronics, PSMC conclude pact for ₹91,000 crore Dholera chip manufacturing unit

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> should deepen its partnerships with countries like <keyword id="19909762" type="General" weightage="20" keywordseo="Taiwan" source="keywords">Taiwan</keyword> and <keyword id="19904740" type="General" weightage="20" keywordseo="Japan" source="keywords">Japan</keyword> to strengthen its presence in the <keyword id="20587488" type="General" weightage="20" keywordseo="semiconductor-ecosystem" source="keywords">semiconductor ecosystem</keyword>, says a report by research firm Elara Securities. Globally, Taiwan holds a dominant position in <keyword id="19920003" type="General" weightage="100" keywordseo="semiconductor" source="keywords">semiconductor</keyword> manufacturing, with its companies accounting for 78 percent of the world's fab manufacturing and 53 percent of the assembly, testing, and packaging (ATMP) market. Over 312 Taiwanese firms lead this sector, but their involvement in India's nascent semiconductor industry remains limited. The report highlights that despite aggressive government efforts and incentives, Taiwan's largest semiconductor companies, including industry giant <keyword id="19956878" type="General" weightage="20" keywordseo="TSMC" source="keywords" meta.keywordsubtype="org" meta.entityname="TSMC" meta.hostid="261" meta.entityid="TSMC">TSMC</keyword>, have shown little interest in establishing fabs in India. The ongoing geopolitical tensions, particularly in the Taiwan Strait, have led Taiwanese semiconductor companies to diversify their operations abroad. TSMC and other key players like UMC are investing in fabs in the U.S., Japan, and Germany, focusing on both advanced and legacy <keyword id="20623935" type="General" weightage="20" keywordseo="chip-production" source="keywords">chip production</keyword>. For instance, TSMC is building fabs in Arizona and Germany, where it collaborates with local suppliers to produce advanced chips. However, no such announcement or collaboration with Indian companies has been made so far. The report states that Japan is providing training to Indian workers, while Taiwan is investing in semiconductor clusters in Southeast Asia. Strengthening such collaborations could provide the much-needed expertise and investment to bolster India's semiconductor ecosystem. Nonetheless, the report noted that the collaboration between <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> and <keyword id="20660397" type="General" weightage="20" keywordseo="Powerchip-Semiconductor-Manufacturing-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Powerchip Semiconductor Manufacturing Corporation" meta.hostid="261" meta.entityid="Powerchip Semiconductor Manufacturing Corporation">Powerchip Semiconductor Manufacturing Corporation</keyword> (PSMC) is a positive step towards developing the semiconductor ecosystem in India. Recently, Tata announced a partnership with Taiwan's PSMC to build a 28-nanometer <keyword id="23170068" type="General" weightage="20" keywordseo="fab-plant" source="keywords">fab plant</keyword>. The report emphasises the need for India to improve its infrastructure and manufacturing ecosystem to attract significant investments in the sector. India also needs to select the right companies to improve manufacturing yields. It underscores concerns about the talent pool, stating that while many Indian students receive semiconductor training in Taiwan, a majority prefer to stay abroad, limiting the country's ability to build a skilled domestic workforce. India's infrastructure, intellectual property protection, and regulatory environment also need improvement to attract global semiconductor manufacturers and build a flourishing semiconductor ecosystem. On the global front, India has an opportunity to capitalise on shifting trade dynamics. With the U.S. and EU increasingly wary of Chinese components in their supply chains, India could position itself as a non-China alternative. Domestically, India's demand for semiconductor chips is expected to surpass USD 100 billion by 2030, driven by the growing demand for electronic goods, the report says.

India urged to deepen ties with Taiwan, Japan for semiconductor growth: Report

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> urged CEOs of US majors to take advantage of India's growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around USD 3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years. Addressing CEOs of the large US tech firms on Sunday, Modi said India will make every effort to become the third largest economy in the world in his third term (2024-29). Companies should take advantage of India's growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country's economic and technological growth, he said. Assuring the business leaders of India's deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors. Modi asserted that his government was committed to making India a "global hub of <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">semiconductor manufacturing</keyword>". The meeting took place at the Lotte <keyword id="19904497" type="General" weightage="20" keywordseo="New-York" source="keywords">New York</keyword> Palace Hotel on Sunday during the second leg of Modi's three-day US visit. It saw the participation of CEOs of 15 major US-based firms working on cutting-edge technologies such as AI, quantum computing and semiconductors. "Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India," Modi said in a post on X. During the conference, Modi said technology collaboration and efforts such as the Initiative on Critical and Emerging Technologies (ICET) lie at the core of the India-US Comprehensive Global Strategic Partnership, according to a Ministry of External Affairs press release. Organised by the Massachusetts Institute of Technology (MIT) School of Engineering, the CEOs of top US tech firms, including Google CEO Sundar Pichai, Adobe CEO Shantanu Narayena, Accenture CEO Julie Sweet and NVIDIA CEO Jensen Huang attended the meeting. Others who participated in the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg. Modi also talked about India's BIO E3 (biotechnology for environment, economy and employment) policy to develop the country into a biotech powerhouse and on the topic of AI, noted that India's policy is to promote AI for all, underpinned by its ethical and responsible use. The CEOs appreciated India's growing prominence as a global technology hub, driven by its innovation-friendly policies and flourishing market opportunities. They also expressed strong interest in investing and collaborating with India, agreeing that investing in startups would be a synergistic opportunity to innovate and develop newer technologies in the country. Others who attended the conference included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Company CEO David A. Ricks, LAM Research CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter. "Further cementing technology and business connect. PM @narendramodi interacted with the top tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Technology School of Engineering, in New York today. PM emphasised India's growth prospects and discussed initiatives to foster collaborations and innovation across diverse sectors," the official account of the MEA said in a post on X. The prime minister had a separate meeting with Krishna P Singh, CEO of Holtec International, which is into nuclear and solar power generation. They discussed Holtec's plan for expanding manufacturing in India and advancing energy cooperation, PMO India said in a post on X. Earlier on Sunday, Modi addressed the <keyword id="20115166" type="General" weightage="20" keywordseo="Indian-diaspora" source="keywords">Indian diaspora</keyword> at the packed Nassau Veterans Coliseum on Long Island in New York. He also held bilateral meetings with world leaders at the sidelines of the UN General Assembly session here. Modi reached New York on Saturday after attending the Quad Leaders' Summit hosted by President Joe Biden in Wilmington, Delaware. <div type="Article" hostid="261" msid="113516805" title="Why is Indian Prime Minister Narendra Modi visiting the US this weekend?" mstype="2" mssubtype="0"></div>

PM Modi invites US CEOs to take a 'byte' out of India's growing technology sector

<ul class="summary-list"><li>The tariffs Donald Trump proposed while campaigning could help create US semiconductor jobs.</li><li>Tariffs could also help US chipmakers compete with companies abroad that sell chips at lower prices.</li></ul>If president-elect Donald Trump follows through on his <a target="_blank" href="https://www.businessinsider.com/companies-raising-prices-trump-tariffs-inflation-goods-getting-more-expensive-2024-11">campaign promise to impose tariffs</a>, the domestic semiconductor industry could see job gains.Industry experts told Business Insider that tariffs on foreign-made chips could help level the playing field for US chipmakers, which are <a target="_blank" class="" href="https://www.businessinsider.com/intel-chip-troubles-problem-us-economy-domestic-production-chips-act-2024-11">facing fierce competition</a> from their counterparts abroad. The tariffs could also encourage US businesses to source more chips domestically and help persuade chipmaking giants, like the Taiwan-based <a target="_blank" href="https://www.businessinsider.com/tsmc-making-apple-iphone-chips-helps-us-semiconductor-bet-2024-10">TSMC</a>, to keep building factories in the US. These developments could aid job growth in the US semiconductor industry, though experts disagreed on how much.Trump's proposed tariff policies include a 60% tariff on goods coming from China and up to a <a target="_blank" class="" href="https://www.businessinsider.com/companies-raising-prices-trump-tariffs-inflation-goods-getting-more-expensive-2024-11">20% tariff</a> on all imports, including chips. US companies source many of the chips needed to power items like iPhones and washing machines from abroad: The US share of overall chip production fell from <a target="_blank" href="https://www.businessinsider.com/why-us-doesnt-make-chips-semiconductor-shortage-2021-4">37%</a> of the world's supply in 1990 to roughly <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/08/09/fact-sheet-two-years-after-the-chips-and-science-act-biden-%E2%81%A0harris-administration-celebrates-historic-achievements-in-bringing-semiconductor-supply-chains-home-creating-jobs-supporting-inn/#:~:text=As%20a%20result%20of%20these,Vice%20President%20Harris%20took%20office.">10%</a> today.In an <a target="_blank" href="https://open.spotify.com/episode/0e9ynAH6hmZIIeOx0SaGQu">interview</a> with podcaster Joe Rogan in October, Trump criticized the Biden administration's <a target="_blank" href="https://www.businessinsider.com/intel-chips-act-funding-all-hands-meeting-2024-11">CHIPS Act</a> legislation, which included $52.7 billion in tax breaks and subsidies for companies in the semiconductor industry. He said that the federal government should have implemented tariffs instead to motivate global chipmakers to build more factories in the US, which would then create jobs."You didn't have to put up $0.10," Trump said. "You could have done it with tariffs. You tariff it so high that they will come and build their chip companies for nothing."To be sure, the impacts of a tariff policy on chips could be mixed. Jeff Koch, an analyst at the semiconductor research and consulting firm SemiAnalysis, told BI that tariffs could lead to higher prices for goods containing chips, such as cars, electronics, and appliances. He added that US chipmakers could likely benefit from these tariffs because it could help them compete with companies abroad that sell chips at lower prices.The Trump campaign did not respond to a request for comment.<h2 id="dc733634-a51d-47cf-a7b9-405bdfac9e61">Tariffs on chips could boost construction and manufacturing jobs</h2>Patrick Moorhead, founder, CEO, and chief analyst at the research and advisory firm Moor Insights and Strategy, told BI that tariffs could increase the number of US chip manufacturing jobs. He added that he thinks the policy could incentivize chipmakers like TSMC and Samsung, which is based in South Korea, to boost manufacturing in the US."The cost of manufacturing in the US for Samsung and TSMC would be lower than a 30% to 40% tariff on <a target="_blank" href="https://www.businessinsider.com/quartz-mine-computer-chips-hurricane-helene-spruce-pine-semiconductor-2024-9">wafers</a> and <a target="_blank" href="https://www.businessinsider.com/us-ai-chip-production-manufacturing-nvidia-labor-china-taiwan-korea-2024-4">packaging</a>," he said, referring to key components of the chipmaking process.Jeff Ferry, chief economist at the Coalition for a Prosperous America, a nonprofit that advocates for increasing domestic manufacturing, estimated that tariffs could create roughly 100,000 jobs at US chip manufacturers and their suppliers.He said this estimate was partly based on a <a target="_blank" class="" href="https://www.semiconductors.org/wp-content/uploads/2021/05/2021-Jobs-Report_2-pager.pdf">report</a> published in 2021 by the Semiconductor Industry Association — a trade association and lobbying group — that said a $50 billion investment would help create an estimated 10 additional chip factories in the US. That could add about 42,000 direct jobs at the companies building these factories and 101,500 indirect jobs at chipmakers' suppliers, per the report.Ferry said he thought chip tariffs could lead to the creation of roughly 10 additional factories, which led him to come to the 100,000 jobs estimate. In August, the White House <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/08/09/fact-sheet-two-years-after-the-chips-and-science-act-biden-%E2%81%A0harris-administration-celebrates-historic-achievements-in-bringing-semiconductor-supply-chains-home-creating-jobs-supporting-inn/">said</a> that investments supported by CHIPS Act funding would help create 115,000 construction and manufacturing jobs."Tariffs on chips, particularly legacy chips like those used in autos, could successfully shift production back to the US," Ferry said.Samsung did not respond to a request for comment. Intel and TSMC did not respond to a question about what impact a Trump administration tariff policy would have on each company's job creation plans in the US.An Intel spokesperson pointed to a <a target="_blank" href="https://www.intel.com/content/www/us/en/newsroom/news/us-chips-act-intel-direct-funding.html#gs.i5ie0q">press release</a> from March, which said the company's $100 billion investment in the US over the next five years is expected to create more than 10,000 jobs at Intel and nearly 20,000 construction jobs. TSMC pointed to a <a target="_blank" href="https://pr.tsmc.com/english/news/3122">press release</a> from April, that said TSMC's investments in three Arizona chip factories are expected to create roughly 6,000 company jobs, more than 20,000 construction jobs, and tens of thousands of indirect supplier and consumer jobs.Stephen Ezell, the vice president for global innovation policy at the Information Technology and Innovation Foundation, said that the effectiveness of a tariff on chips could be limited, in part because many chips aren't imported <a target="_blank" class="" href="https://www.usitc.gov/publications/332/executive_briefings/ebot_cellular_phones_and_covid.pdf">directly</a> into the US: He said they often come embedded into finished products like <a target="_blank" class="" href="https://www.usitc.gov/publications/332/executive_briefings/ebot_cellular_phones_and_covid.pdf">smartphones</a> or computers.For example, he said that in most cases, chips that TSMC manufactures in Taiwan for Apple are sent to <a target="_blank" class="" href="https://www.theatlantic.com/technology/archive/2022/12/tsmc-apple-memory-chip-production-us-china-taiwan-relations/672593/">China</a> or <a target="_blank" class="" href="https://www.cnbc.com/2024/04/10/apple-made-14-billion-worth-of-iphones-in-india-in-shift-from-china.html">India</a> to be incorporated into a product like an iPhone. Therefore, the chip wouldn't be subject to a US tariff but the iPhone would.When deciding whether to build a chip factory in the US, Ezell said several factors — including wage rates, the labor talent pool, and tax policy — would be bigger considerations for companies than the country's tariff policy. But if tariffs proved to be the deciding factor in a company's decision to invest in the US, then Ezell said the policy could arguably be credited with boosting employment in the semiconductor industry."If a company did decide not to launch a factory elsewhere and instead launch it in the United States, then yes, this dynamic could lead companies to hire more," he said.Do you work in the US semiconductor industry? Reach out to this reporter at <a target="_blank" href="mailto:jzinkula@businessinsider.com">jzinkula@businessinsider.com</a>

Trump's trade restrictions could be good for American semiconductor jobs

New Delhi [India], June 18 (ANI): India and the US have agreed to closer engagement and cooperation on supply chain, <keyword id="20009962" type="General" weightage="20" keywordseo="semiconductors" source="keywords">semiconductors</keyword> and <keyword id="19978839" type="General" weightage="20" keywordseo="critical-minerals" source="keywords">critical minerals</keyword> during the meeting of the <keyword id="20233690" type="General" weightage="100" keywordseo="India-US" source="keywords">India-US</keyword> initiative on Critical and Emerging Technology (iCET), led by Indian National Security Adviser Ajit Doval and his US counterpart Jake Sullivan in New Delhi. India and the US, on Monday, launched a new strategic semiconductors partnership to co-develop semiconductor design and manufacturing processes for precision-guided ammunition. "Launching a new strategic semiconductor partnership between General Atomics and 3rdiTech to co-develop semiconductor design and manufacturing for precision-guided ammunition and other national security-focused electronics platforms," read the fact sheet issued by the US and India. Semiconductors (essential for defence, automobiles and telecommunications sectors) have grown into a key geopolitical battleground, with the US, Japan and China investing heavily in developing domestic capabilities. "Celebrating the conclusion of a joint Semiconductor Readiness Assessment through a partnership between the US Semiconductor Industry Association and the India Electronics Semiconductor Association, which identifies near-term industry opportunities and facilitates longer-term strategic development of complementary semiconductor ecosystems," the factsheet added. This engagement with Indian and US investors in the semiconductor industry in India aims to continue building India's robust semiconductor and information communication technology ecosystem. Notably, India in March approved three semiconductor plant proposals, aiming to bolster India's semiconductor manufacturing ecosystem. The projects entail an estimated investment of Rs 1.26 lakh crore and are expected to significantly contribute to India's electronics manufacturing sector. Tata Electronics and Taiwan's Powerchip Semiconductor Manufacturing Corp. (PSMC) will establish India's first semiconductor fabrication plant (fab) in Dholera, Gujarat. Tata Semiconductor Assembly and Test Pvt Ltd (TSAT) will set up a semiconductor unit in Morigaon, Assam. CG Power, in partnership with Renesas Electronics Corp., Japan, and Stars Microelectronics, Thailand, will establish a semiconductor unit in Sanand, Gujarat. US and India also aimed to work together to ensure a reliable supply of critical minerals, which are essential for clean energy technologies and other important industries. "Promoting India's vital role in the Mineral Security Partnership, including through co-investing in a lithium resource project in South America and a rare earths deposit in Africa, to responsibly and sustainably diversify critical mineral supply chains," read the fact sheet. The two countries agreed to establish an India-US Advanced Materials R&amp;D Forum on the margins of the India-U.S. Joint Committee Meeting on Science and Technology to expand collaboration between American and Indian universities, national laboratories, and private sector researchers. "Deepening industrial and commercial coordination for critical mineral supply chains under the India-US Commercial Dialogue between the US Department of Commerce and the Indian Ministry of Commerce and Industry, with private sector input from the India-US CEO Forum," the fact sheet stated. They also committed to quickly conclude a bilateral Critical Minerals Memorandum of Understanding between the US Department of Commerce and the Indian Ministry of Commerce and Industry and the Ministry of Mines, and driving additional areas of cooperation in critical mineral supply chains such as for graphite, gallium, and germanium. "Exploring opportunities for collaboration in the critical minerals sector like bilateral collaboration in technologies for Neodymium-iron-boron metal, alloy and magnet making, collaboration with Department of Energy entities; Advancing Indian collaboration with U.S. organizations and companies for carrying out research studies for beneficiation of critical minerals, including lithium, titanium, gallium, and vanadium," added the fact sheet. The two countries agreed to build a collaborative program between the Geological Survey of India and the US Geological Survey on exploration, characterization and evaluation of rare earth elements and critical mineral deposits. (ANI)

India and the US agree to step up cooperation on semiconductors, critical minerals

The global semiconductor industry is heading into a strong recovery phase, with revenue anticipated to reach $630 billion in 2024, a 19% rise over the previous year, as noted by the latest <keyword id="21638387" type="General" weightage="20" keywordseo="Gartner-report" source="keywords">Gartner report</keyword>. This growth trend follows a challenging 2023 and appears to be set for continued momentum, with projections estimating an additional increase to $717 billion by 2025. The boost comes as <keyword id="20176122" type="General" weightage="20" keywordseo="AI-technologies" source="keywords">AI technologies</keyword>, data-processing advancements, and a return in electronics manufacturing drive market demand. AI-related chips, in particular, have become essential as applications expand across sectors—from high-performance computing to everyday consumer electronics. As a result, memory components such as <keyword id="23726596" type="General" weightage="20" keywordseo="NAND-flash" source="keywords">NAND flash</keyword> and DRAM are experiencing increased demand, addressing more specialised computing needs and supporting AI-intensive workloads. Gartner highlights that NAND flash, essential in AI systems, is set to see significant gains, with a 12% revenue increase by 2025, driven partly by persistent undersupply and soaring demand in AI applications. The demand surge is similarly benefiting GPUs, which are vital to AI development, particularly in model training and deployment. After experiencing a dip in 2023, the <keyword id="23292216" type="General" weightage="20" keywordseo="GPU-market" source="keywords">GPU market</keyword> is expected to rebound strongly, potentially growing by 27% in 2025 and reaching $51 billion. The specialised memory segment, especially high-bandwidth memory (HBM), has also seen increased investment to support the high-capacity needs of modern AI hardware, with manufacturers scaling production and enhancing memory packaging. DRAM is also seeing a resurgence, driven by the production of high-bandwidth memory and rising adoption of DDR5 technology, which offers faster and more efficient data processing. Analysts note that these advances are contributing to a recovery for DRAM, with revenues projected to rise from $90.1 billion in 2024 to $115.6 billion by 2025, as supply issues ease and technology progresses. This robust growth in semiconductors reflects the sector’s adaptation to AI and data-processing needs, as memory technologies evolve to match these rising demands. While the market for automotive and industrial applications has seen slower growth, the trajectory in consumer electronics and AI-powered solutions keeps the semiconductor industry on track for a dynamic, technology-driven period of expansion. With AI, memory technologies, and GPU enhancements leading the way, the semiconductor market appears well-positioned for sustained growth. (With ANI inputs)

Global semiconductor sector expected to grow due to AI demand, new report says

<ul class="summary-list"><li>TSMC has begun producing chips for Apple at its Phoenix fab, people familiar with the matter said.</li><li>This development bodes well for the future of the US semiconductor industry, to which the Biden administration pledged $52 billion.</li></ul>The US's efforts to produce more <a target="_blank" href="https://www.businessinsider.com/us-china-tech-war-computer-chips-semiconductor-plants-costing-americans-2023-1">semiconductor chips</a> have encountered some challenges over the past few years, but the tide may be turning.TSMC, the world's leading chipmaker, has begun producing A16 chips for Apple at one of its <a target="_blank" href="https://www.businessinsider.com/tsmc-phoenix-chip-semiconductor-factory-biden-global-economy-china-taiwan-2022-12">Phoenix semiconductor chip fabs</a> (or factories), two people familiar with the matter told Business Insider. One of the people said that full production levels have not yet been reached. Their identities are known to BI.<a target="_blank" class="" href="https://timculpan.substack.com/p/apple-mobile-processors-are-now-made">Tim Culpan</a>, an independent journalist who covers technology and is based in Taiwan, first reported the news last month.The chips, which Culpan reported are being produced in "small, but significant, numbers," mark a major development for the company, which <a target="_blank" href="https://pr.tsmc.com/english/news/2033">announced</a> plans in 2020 to invest billions of dollars in Arizona and create thousands of jobs. Additionally, it comes two years after Tim Cook, the CEO of Apple, announced that the company would be the "<a target="_blank" href="https://www.businessinsider.com/apple-tim-cook-america-us-made-chips-first-time-decade-2022-12">largest customer</a>" of TSMC's first Arizona fab and use US-made chips for the first time in nearly a decade.A TSMC spokesperson declined to comment on the company's US work with Apple. When asked about the progress on the company's first chip fab, the spokesperson said that the project is "proceeding as planned with good progression," and that the company is on track to be fully operational in the first half of 2025.Apple didn't respond to BI's request for comment.<h2 id="1819bf24-3dc2-49d1-a9d0-42044a61e24c">'A success story'</h2>Dylan Patel, a chief analyst at the semiconductor research and consulting firm SemiAnalysis, said stateside chip production for Apple is a key milestone."Despite many negative stories early on, this shows the fabs are on track and operating as expected — a success story," he told BI.Mark Muro, a senior fellow at the Brookings Institution, told BI that beginning the production of A16 chips — which have been used in some recent <a target="_blank" href="https://www.businessinsider.com/guides/tech/iphone-15-plus-review">iPhone models</a>, though not the new <a target="_blank" class="" href="https://www.businessinsider.com/guides/tech/iphone-16">iPhone 16</a> — is a very positive signal for the Apple-TSMC partnership."It suggests Apple has enough belief in the new US facility to dive right in with US production of one its most advanced mobile processors," he said, adding, "This is encouraging given some observers' skepticism US sites could reach TSMC standards anytime soon."TSMC's commitment to <a target="_blank" href="https://www.businessinsider.com/tsmc-arizona-semiconductor-chip-fab-taiwan-china-president-joe-biden-2024-4">building three</a> chip fabs on its Phoenix campus is key to the Biden-Harris administration's efforts to boost the US's production of the chips that power everything from iPhones to washing machines. In 2022, President Joe Biden signed the <a target="_blank" href="https://www.businessinsider.com/chips-act-bill-to-boost-us-chipmaking-competition-with-china-2022-7">CHIPS Act</a> into law, which included <a target="_blank" href="https://www.businessinsider.com/trump-taiwan-china-semiconductor-chips-us-economy-trade-biden-election-2024-7">$39 billion</a> in manufacturing incentives for chip production in the US. In addition to creating US jobs, the administration hopes to secure supply chains and make the US <a target="_blank" class="" href="https://www.businessinsider.com/asml-tsmc-semiconductor-chip-equipment-kill-switch-china-invade-taiwan-2024-5">less reliant</a> on advanced chips in Taiwan.<h2 id="8f73c768-4752-403c-b6e5-a20430cb553e">TSMC faced construction slowdowns and worker tensions in Arizona</h2>TSMC's investment in Arizona hasn't always been smooth.Last year, TSMC announced that the official opening of its first Arizona fab would be <a target="_blank" href="https://www.businessinsider.com/tsmc-taiwan-semiconductor-phoenix-arizona-factory-chipmaker-job-qualification-debate-2023-8">pushed back</a> from 2024 to 2025. And when the company announced plans to send technicians from Taiwan to train US workers, a local <a target="_blank" class="" href="https://www.businessinsider.com/tsmc-taiwan-semiconductor-phoenix-arizona-factory-chipmaker-job-qualification-debate-2023-8">Arizona labor union</a> protested due to concerns that American jobs would be threatened.Management and safety concerns have also led to some frustrations among TSMC's construction workforce in Arizona. Workers <a target="_blank" href="https://www.businessinsider.com/tsmc-phoenix-arizona-chip-factory-taiwan-semiconductor-management-safety-workers-2023-8">previously told BI</a> that managerial challenges had fueled construction delays, and some have accused the company of <a target="_blank" href="https://www.businessinsider.com/tsmc-phoenix-arizona-chip-factory-taiwan-semiconductor-management-safety-workers-2023-8">safety violations</a>. TSMC <a target="_blank" href="https://www.businessinsider.com/tsmc-phoenix-arizona-chip-factory-taiwan-semiconductor-management-safety-workers-2023-8">previously told BI</a> that it's committed to ensuring that its working conditions are safe.In 2022, TSMC's founder and former CEO Morris Chang told the Brookings Institute that the US's efforts to boost <a target="_blank" href="https://www.businessinsider.com/why-tsmc-chipmaker-investing-billions-us-cost-more-make-chips-2022-12">domestic chip production</a> would be "a wasteful, expensive exercise in futility," citing labor force and cost challenges.Despite these hiccups, TSMC said in April during an earnings call that the progress on its first Arizona fab was "<a target="_blank" href="https://www.businessinsider.com/tsmc-arizona-semiconductor-chip-fab-taiwan-china-president-joe-biden-2024-4">well on track</a>."TSMC's production of Apple chips is good news for Americans <a target="_blank" href="https://www.businessinsider.com/semiconductor-industry-jobs-salary-chips-phoenix-arizona-tsmc-students-2023-10">hoping to land jobs</a> in the industry, Patel said. That's because TSMC's early success suggests it will continue to invest in the US."This drives job growth not just at TSMC but for the entire ecosystem — fab construction, equipment vendors, etc. that are all needed to support the fab," Patel said. "While modern fabs are not especially labor intensive, they require highly-skilled workers and will operate for decades, meaning many high-quality, long-term jobs are being created."TSMC has said that it will <a target="_blank" href="https://www.businessinsider.com/tsmc-arizona-semiconductor-chip-fab-taiwan-china-president-joe-biden-2024-4">charge customers more</a> for chips made outside Taiwan due to higher manufacturing costs. But Patel said he doesn't expect this to have a material impact on the prices of Apple's products."US government subsidies were meant to offset differences in construction and other costs between Taiwan and the US to make the business viable for TSMC," he said, adding, "Neither Apple nor consumers should expect a price difference for these US-produced chips.Going forward, chip makers like TSMC will face another challenge once they're operating at full capacity: <a target="_blank" class="" href="https://www.businessinsider.com/semiconductor-certification-program-chipmaker-manufacturing-jobs-new-career-intel-tsmc-2023-8">finding workers</a>.According to a <a target="_blank" href="https://www.semiconductors.org/america-faces-significant-shortage-of-tech-workers-in-semiconductor-industry-and-throughout-u-s-economy/">report</a> published last year by the Semiconductor Industry Association, the US semiconductor industry faces a worker shortage of 67,000 workers by 2030, including technicians, computer scientists, and engineers. However, Patel said that he doesn't expect labor force challenges to materially impact production at TSMC specifically.Muro was also optimistic. He said he thinks TSMC's production of Apple chips would bode well for the future."This is an important signal that the American drive to re-shore high-quality chipmaking is well founded," he said.Do you work in the semiconductor industry and have a story to tell? Reach out to this reporter at <a target="_blank" href="mailto:jzinkula@businessinsider.com">jzinkula@businessinsider.com</a>.

Apple's Made-in-the-USA chips signal a turnaround for the US' big semiconductor bet

Tech giant <keyword id="19898516" type="General" weightage="100" keywordseo="Intel" source="keywords" meta.keywordsubtype="org" meta.entityname="Intel" meta.hostid="261" meta.entityid="Intel">Intel</keyword> has been making a lot of headlines these days. The company is going through tough times and is trying to rise above all challenges. Last month, Intel’s shares hit their lowest in 50 years. The company also announced its decision to lay off 15 percent of its workforce. A couple of days back, there were rumours that <keyword id="19944986" type="General" weightage="20" keywordseo="Qualcomm" source="keywords" meta.keywordsubtype="org" meta.entityname="Qualcomm" meta.hostid="261" meta.entityid="Qualcomm">Qualcomm</keyword> might be interested in acquiring the decades old tech giant. However, this information should be taken with a pinch of salt as these are just rumours until now, nothing else. <h2>Intel might get multi-billion dollar investment</h2>Now, a Bloomberg report has said that <keyword id="21043511" type="General" weightage="20" keywordseo="Apollo-Global-Management" source="keywords">Apollo Global Management</keyword> Inc. might be in talks with Intel for a potential multibillion-dollar investment. The offer, reportedly worth up to $5 billion, could be a significant boost for Intel's ambitious turnaround plans, which have been in motion under CEO <keyword id="20059551" type="General" weightage="20" keywordseo="Pat-Gelsinger" source="keywords">Pat Gelsinger</keyword>. The Bloomberg report added that Intel executives have been mulling over Apollo’s proposal. It also added that the offer is still in early stages and may not come to fruition. <div type="Article" hostid="261" msid="113568851" title="SIMPLY PUT: Founder Mode — the secret sauce to startup success or fancy term for hustle and micromanagement?" mstype="2" mssubtype="0"></div> The report also added that the size of the potential investment in Intel could change and discussions regarding a deal could also fall through. Apollo’s proposal comes at a crucial moment for Intel. As mentioned already, the company, once synonymous with cutting-edge chips, has faced declining market value recently. For a company that used to dominate the <keyword id="19920003" type="General" weightage="20" keywordseo="semiconductor" source="keywords">semiconductor</keyword> industry, the last few years have been tough. Competitors like AMD and Nvidia have pulled ahead, leaving Intel to scramble for relevance in a rapidly changing market. <h2>Apollo and Intel’s relationship </h2> Apollo’s interest in Intel isn’t entirely out of the blue. The two companies already share a financial relationship, with Apollo announcing plans to purchase a 49% stake in Intel’s manufacturing facility in Ireland for $11 billion earlier this year. The new proposed deal, however, signals a deeper involvement from the asset management firm, which has a history of investing in distressed assets. <div type="Article" hostid="261" msid="113567973" title="Coldplay announces new show in Mumbai on January 21: How to book tickets, timings, and all you need to know" mstype="2" mssubtype="0"></div> Intel’s <keyword id="23276491" type="General" weightage="20" keywordseo="turnaround-strategy" source="keywords">turnaround strategy</keyword> under Gelsinger involves not only revitalising its product line but also expanding its customer base. This includes diversifying into new technologies and markets, which has resulted in mixed financial results. While Intel has been attempting to reinvent itself, it’s clear that the road ahead will be expensive, and Apollo’s capital could be the lifeline the chipmaker needs to keep these plans on track. <div type="Article" hostid="261" msid="113434470" title="Intel, once a Silicon Valley star, has been floundering. Now it's mounting a turnaround." mstype="2" mssubtype="0"></div>

Apollo reportedly offering multi-billion dollar investment to Intel after reports of acquisition by Qualcomm

<ul class="summary-list"><li>Morgan Stanley estimated that bringing manufacturing back to the US could add $10 trillion to the economy.</li><li>The bank pointed to a 20-year stagnation of the industrial economy as production was sent offshore.</li></ul>The US economy could unlock trillions in value over the next decade if more manufacturing activity comes back to the US, according to Morgan Stanley.After decades of production activity being sent abroad, domestic manufacturing is starting to come back to the US, the bank said, a phenomenon known as <a target="_blank" class="" href="https://www.businessinsider.com/reshoring-trade-investors-safe-haven-bet-regardless-of-election-winner-2024-8">reshoring</a>. If domestic production continues to scale, the economy could gain as much as $10 trillion in value over the next decade, according to Chris Snyder, a US multi-industry analyst at the bank."After decades of offshoring and relying on international supply chains, the pendulum is swinging back toward domestic production," Snyder said in a recent <a target="_blank" class="" href="https://www.morganstanley.com/ideas/thoughts-on-the-market-supply-chain?cid=SM_CORP_YOUTUBE_Morgan+Stanley_20241028&amp;linkId=636499587">episode</a> for Morgan Stanley's "Thoughts on the Market" podcast. "In fact, we believe the US is entering the early innings of <a target="_blank" class="" href="https://www.businessinsider.com/us-economy-reindustrializing-how-to-invest-manufacturing-cyclical-quality-2024-7">re-industrialization</a> — a multi-decade opportunity that we size at $10 trillion and think has the potential to restore growth to the US industrial economy following more than 20 years of stagnation," he added.The <a target="_blank" class="" href="https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/pmi/september/">manufacturing sector continued to contract</a> in September, with activity declining for the 22nd month out of the last 23, per the Institute of Supply Management.Still, the sector is showing signs that the US is backing backing away from offshore production. The US's international trade deficit for goods and services declined to $70.4 billion in August, down $8.5 billion from the prior month, according to the <a target="_blank" class="" href="https://www.bea.gov/news/2024/us-international-trade-goods-and-services-august-2024">Commerce Department</a>.The Biden administration, meanwhile, has poured billions into its <a target="_blank" class="" href="https://www.businessinsider.com/us-semiconductor-chip-production-continue-harris-trump-presidency-arizona-jobs-2024-10">push to increase chip production</a> in the US and boost<a target="_blank" class="" href="https://www.businessinsider.com/biden-to-sign-executive-order-to-boost-us-manufacturing-2021-1"> the manufacturing</a> and industrial sectors. As of February of this year, annual investment in new manufacturing facilities hit a record $225 billion, according to a <a target="_blank" class="" href="https://www.jec.senate.gov/public/index.cfm/democrats/2024/4/fact-sheet-the-manufacturing-renaissance-that-will-drive-the-economy-of-the-future">memo</a> from the Senate Joint Economic Committee.Shifting production back to the US is expected to be helped along by new technology, like artificial intelligence and more advanced robotics and automation, Snyder said. That could be a boon for "high-tech" sectors in the US, he later added, pointing to the semiconductor, pharmaceuticals, and advanced manufacturing systems industries.Traditional industrial firms — like those in the auto and aerospace sectors — and companies that invest in more sustainable manufacturing are also expected to benefit from the reshoring shift, he added."All told, these businesses should see shorter supply chains, reduced legal and tariff costs, and a more resilient operational structure."The cumulative effects could be "pretty profound" across the US economy, Snyder said, with the boost to industry and manufacturing bound to raise GDP. Reshoring could also potentially undo the US's trade deficit with other economies, Snyder said."The US — with its robust tech sector and innovation ecosystem — is uniquely positioned to leverage technology to revitalize its manufacturing base," he added.

Bringing manufacturing back to the US is a $10 trillion opportunity for the economy, Morgan Stanley says

The department for promotion of industry and internal trade (<keyword id="19952901" type="General" weightage="20" keywordseo="DPIIT" source="keywords" meta.keywordsubtype="org" meta.entityname="DPIIT" meta.hostid="261" meta.entityid="DPIIT">DPIIT</keyword>) on Monday asked <keyword id="19957196" type="General" weightage="20" keywordseo="white-goods" source="keywords">white goods</keyword> manufacturers to participate in large numbers to avail fiscal benefits under the <keyword id="19952889" type="General" weightage="20" keywordseo="production-linked-incentive" source="keywords">production linked incentive</keyword> scheme for the sector as the response has been muted so far. Additional Secretary in the DPIIT Rajeev Singh Thakur said that the department has again reopened the application window for the PLI (production linked incentive) scheme for white goods (<keyword id="20360726" type="General" weightage="20" keywordseo="ACs" source="keywords">ACs</keyword> and LED lights). The application window is open from July 15 to October 12. "In the PLI in white goods scheme, somehow the response has been muted. ...Probably due to various reasons not sufficient response has come. So I request (the industry) to have a look and probably this time, you can consider (applying)," Thakur said at the CII Consumer Electronics and Durables Summit 2024 here. So far, 66 applicants with committed investment of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme. The Union Cabinet had given approval for the PLI scheme for white goods for <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> of components and sub-assemblies of Air Conditioners (ACs) and LED lights on April 7, 2021. The scheme is to be implemented over a seven-year period, from 2021-22 to 2028-29, and has an outlay of Rs 6,238 crore. He added that the department can hold talks with the industry separately on issues like quality control orders and logistics. Thakur told the industry that the time is right to increase investments into the country as the government has enhanced its capex and taken steps to promote <keyword id="19996629" type="General" weightage="20" keywordseo="ease-of-doing-business" source="keywords">ease of doing business</keyword>. The public capex in the last 10 years is growing at a fast pace in areas like highways, expressway, ports, airports and railways, but the commensurate response of the private sector "somehow is not up to the expectation", he said. Earlier speaking at the event, DPIIT Secretary Amardeep Singh Bhatia said that a lot of steps have been taken to promote ease of doing business, cutting down compliance burden and decriminalisation of minor offences. The government has also recently approved 12 industrial townships and the industry can look at investing there. He added that capital availability is not an issue now and the government has also provided protection to the industry from predatory imports. Schemes like PLI and semiconductor mission have been rolled out to promote manufacturing and "now we want the industry" to ensure that they have necessary collaborations in place for technology and investments. The industry should do collaborations not only to target the domestic market but also become part of global value chains. "That is an expectation we are having from the entire industry and I think industry will rise to meet these expectations... We have a huge demographic dividend and the industry should take advantage of this otherwise we will miss it," Bhatia added. He also said that there is no paucity of adequate skilled labour in the country and logistics costs too are coming down. On logistics, he cited examples of Amazon and Flipkart selling goods in the remotest part of the country. "I don't think industry should look at the current domestic demand only for collaborations. They should look at the future and export market also in addition to the domestic market," he said, adding expenditure on research and development is "abysmally" low and that needs to be enhanced. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms" target="_blank">Upcoming cars launching in India in October 2024</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank">Upcoming smartphones launching in India in October 2024</a><a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms" target="_blank">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

Govt asks white goods industry to apply for manufacturing sops in large numbers

New Delhi: After meeting Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> ahead of the <keyword id="21272963" type="General" weightage="100" keywordseo="semicon-india-2024" source="Orion">Semicon India 2024</keyword> Summit, <keyword id="20137945" type="General" weightage="20" keywordseo="sanjay-mehrotra" source="keywords">Sanjay Mehrotra</keyword>, CEO of Micron, appreciated PM Modi's vision of developing semiconductors in India and said policies set up by him to incentivise semiconductor manufacturing in India are also very exciting. "PM Modi's vision to develop semiconductors in India and make it self-reliant is very exciting. The policies set up by him to incentivise semiconductor manufacturing are equally exciting. This is the perfect time for India to develop semiconductors because opportunities will grow with AI. The best is yet to come," Mehrotra said ahead of SEMICON India 2024 Summit. PM Modi will inaugurate SEMICON India 2024 at India Expo Mart, Greater Noida, Uttar Pradesh, today. Earlier on Tuesday, PM Modi chaired Semiconductor Executives' Roundtable at his residence. During the meeting, the Prime Minister said that their ideas will not only shape their business but also India's future. Mentioning that the coming time will be technology-driven, Prime Minister said semiconductor is the basis of the Digital Age and the day is not far "when the semiconductor industry will be the bedrock for even our basic necessities". The Prime Minister emphasised that democracy and technology together can ensure the welfare of humanity and India is moving ahead on this path recognizing its global responsibility in the semiconductor sector. According to an official release, the Prime Minister talked about the pillars of development which include developing social, digital and physical infrastructure, giving boost to inclusive development, reducing compliance burden and attracting investment in manufacturing and innovations. The meeting was attended by CEOs, Heads and representatives of various organisations including SEMI, Micron, NXP, PSMC, IMEC, Renesas, TEPL, <keyword id="23116584" type="General" weightage="20" keywordseo="tokyo-electron-ltd" source="keywords">Tokyo Electron Ltd</keyword>, Tower, <keyword id="19920144" type="General" weightage="20" keywordseo="synopsys" source="keywords">Synopsys</keyword>, Cadence, Rapidus, Jacobs, JSR, Infineon, Advantest, Teradyne, Applied Materials, Lam Research, Merck, CG Power and Kaynes Technology. Also present in the meeting were Professors from Stanford University, University of California San Diego and IIT Bhubaneswar. SEMICON India 2024 is being organised from 11 to 13 September with the theme "Shaping the Semiconductor Future." The three-day conference will showcase India's semiconductor strategy and policy, which envisions making India a global hub for semiconductors. It will witness the participation of top leadership of global semiconductor giants and will bring together global leaders, companies, and experts of the semiconductor industry. The conference will witness participation of more than 250 exhibitors and 150 speakers.

Semicon India 2024: This is perfect time for India to develop semiconductors, says MICRON CEO Sanjay Mehrotra

<ul class="summary-list"><li>Nvidia's stock has more than doubled since the start of the year.</li><li>However, experts told Business Insider that the chip giant may not always be on the up and up.</li></ul>Riding the AI wave has proven to be lucrative for <a target="_blank" class="" href="https://www.businessinsider.com/cathie-wood-would-have-held-nvidia-if-knew-going-up-2024-7">Nvidia</a>.Nvidia stock prices have <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-outlook-investors-selling-ai-artificial-intelligence-bubble-hype-2023-6">more than doubled</a> since the start of the year, and in June, it briefly became the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-market-cap-microsoft-most-valuable-company-ai-2024-6?_gl=1*nq7cze*_ga*MzE0NTU5NjEuMTcxNTY0OTc0Nw..*_ga_E21CV80ZCZ*MTcyMjQwNzAyMy4yNDIuMS4xNzIyNDA5MDUwLjU5LjAuMA..">world's most valuable company</a>.But the company is unlikely to climb forever."The semiconductor sector has always been cyclical, so we should assume there will be ups and downs in the future too," said <a target="_blank" class="" href="https://www.businessinsider.com/ai-taiwan-china-chip-war-2024-6">Chris Miller</a>, a history professor at The Fletcher School at Tufts University.Miller, who authored The New York Times bestseller "<a target="_blank" class="" href="https://www.simonandschuster.com/books/Chip-War/Chris-Miller/9781982172008">Chip War: The Fight for the World's Most Critical Technology</a>," told BI that chip giants like Nvidia and TSMC "have benefited immensely from the AI buildout."That, however, may not always be the case, he added."The boom in spending on AI infrastructure has been a major growth driver for the chip industry," Miller said. "If excitement and investment in AI slow, chip industry growth will slow, too."<h2 id="b6128045-fbbc-4390-9793-fae816cd6d09">What is the semiconductor supercycle?</h2>At its core, a semiconductor supercycle simply means that there can be sustained periods of growth and increased demand — one that can last for several years.But that rosy period of growth doesn't last forever. The capital-intensive nature of semiconductor manufacturing, for one, makes it extremely difficult to align supply with demand.And companies that want to meet a sudden uptick in demand must make hefty investments to boost production. While this would certainly raise supply levels, it also risks creating an oversupply if demand dies down.This means that investors could be left hanging if they time the semiconductor supercycle wrongly.For now, the chip industry has found itself buoyed by the <a target="_blank" class="" href="https://www.businessinsider.com/how-much-big-tech-spending-on-ai-investments-2024-7">surge in funding</a> from AI-related investments.That has resulted in a big payday for Nvidia, which has done brisk business with <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-mark-zuckerberg-ai-chips-gpus-meta-2024-2">Meta's Mark Zuckerberg</a> and <a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Tesla's Elon Musk</a>.Zuckerberg even touted Meta's growing stockpile of Nvidia chips in an interview with <a target="_blank" class="" href="https://www.theverge.com/2024/1/18/24042354/mark-zuckerberg-meta-agi-reorg-interview">The Verge</a> in January, adding that he expects the company to own more than 340,000 Nvidia H100 GPUs by the end of 2024.However, some segments in the industry have already seen a slowdown, such as those relating to chips for consumer electronics. In April, chip manufacturer TSMC said it was <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-04-18/tsmc-posts-first-profit-growth-in-a-year-after-global-ai-boom?sref=nfBouUGg">lowering its growth forecasts</a>, citing weak smartphone and personal computer sales.The boom in data center builds has also spurred significant chip demand. If data center investment slows, chip firms could take a hit, Miller said.To be sure, not everyone thinks we are at the peak of the AI-driven supercycle just yet."The rising demand for electricity due to digitalization, AI, and the use of renewable energies are increasing the demand for metal raw materials," Thomas Rupf, chief investment officer at private bank VP Bank Asia, told BI."It is still too early to declare a new super cycle," he said, adding that there are still investment opportunities in areas like industrial metals and mining, both boosted by AI demand.<a target="_blank" class="" href="https://www.ey.com/en_sg/people/josie-ananto">Josie Ananto</a>, a principal at EY-Parthenon's strategy and transactions team, told BI that the growing ubiquity of chips means that demand will be a lot more persistent."The growth of the semiconductor sector is not a hype — it is real," she said. "For example, electric vehicles in the automotive sector, product innovation in life sciences and pharmaceutical sector, consumer recommendation and personalization in the consumer products and retail sector."<h2 id="db60ded9-1262-458a-9178-d6d9653eccbb">Heightened competition will only make things harder for incumbents like Nvidia</h2>Semiconductor supercycle aside, investors may also want to pay attention to the competitive dynamics for chip designers like Nvidia."Nvidia today is the leader in producing chips for AI training and deployment," Miller said. "However, Nvidia's success is already attracting competition."Unlike TSMC, Nvidia designs but doesn't make its own chips. This, Miller added, means that Nvidia is exposed to multiple threats — whether it be from Big Tech players like Meta and Google or startups like Groq."The barrier to entry for chip manufacturing is very high, given the significant capital investment required to open a fabrication plant," EY-Parthenon's Ananto said."For chip design, however, this is an area that is likely ripe for disruption, as more technology companies are investing in chip design capabilities, specifically tailored to their products with faster time to market," she added.<a target="_blank" class="" href="https://www.businessinsider.com/amazon-nvidia-aws-ai-chip-dominance-gpu-trainium-inferentia-2024-5">Amazon</a>, <a target="_blank" class="" href="https://about.fb.com/news/2024/04/introducing-our-next-generation-infrastructure-for-ai/">Meta</a>, and <a target="_blank" class="" href="https://cloud.google.com/blog/products/compute/introducing-googles-new-arm-based-cpu">Google</a> are all designing their own AI chips.And Nvidia isn't standing still, either. In May, Nvidia CEO Jensen Huang said the company would release new chips on a "<a target="_blank" class="" href="https://www.businessinsider.com/nvidia-demand-ai-chips-blackwell-hopper-ceo-jensen-huang-earnings-2024-5">one-year rhythm</a>" instead of its traditional two-year release cycle.But that's not to say that firms will all be competing to feast on the same pie. According to Miller, the pie may be huge now, but there's no telling when it could shrink."The key question is how much Big Tech companies continue to spend building AI infrastructure," he said.According to a <a target="_blank" class="" href="https://www.goldmansachs.com/insights/top-of-mind/gen-ai-too-much-spend-too-little-benefit">Goldman Sachs</a> report published last month, tech companies are expected to <a target="_blank" class="" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">pour over a trillion dollars into AI</a> over the next few years.However, the investment bank cautioned against being overly optimistic about AI's return on investment, given how "exceptionally expensive" the technology is.

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