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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

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

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

<ul class="summary-list"><li>Chip stocks tumbled Tuesday, with NVDA and AMD down 5% and ASML plunging 16%.</li><li>The downturn came as ASML lowered its 2025 sales guidance. </li></ul>Semiconductor stocks fell Tuesday after ASML slashed guidance for next year, and as the sector mulled reports that the US was weighing a cap on chip exports from some American companies.ASML, Europe's most valuable tech company, plunged 16% in its biggest single-day drop since 1998. Other chip stocks followed, with NVDA dipping almost 5%, AMD falling 5.3%, and Broadcom tumbling 3.5% around midday Tuesday.SMCI, meanwhile, fell as much as 3.4% earlier in the day before paring most losses.The industry's downturn comes after ASML, a Dutch chip machine maker, posted a downbeat earnings report and cut its sales guidance for next year. The report's forward guidance lowered total net sales for 2025 to between €30 billion and €35 billion, the lower half of the previously stated range, citing weak demand from chipmakers for its machinery."It now appears the recovery is more gradual than previously expected. This is expected to continue in 2025, which is leading to customer cautiousness," CEO Christophe Fouquet said in a statement.ASML's third quarter bookings were €2.6 billion, coming in under half the average estimate of €5.39 billion, according to a Bloomberg survey.The report was posted a day earlier than expected, adding to the surprise of the results and lower guidance. Flows into AI stocks slowed over the summer as investors <a target="_blank" href="https://www.businessinsider.com/big-tech-investors-wary-high-ai-spending-markets-selloff-nasdaq-2024-7?utm_medium=ingest&amp;utm_source=markets">expressed worries</a> about returns on huge spending on AI. Investment in the sector has rebounded in recent weeks, though, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-tests-record-highs-wall-street-defends-valuation-blackwell-2024-10?utm_medium=ingest&amp;utm_source=markets">propelling Nvidia</a> to a fresh high on Monday to help the S&amp;P 500 hit <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-today-sp500-hits-another-record-high-q3-earnings-2024-10">another record close</a>.Reports that the US is weighing a cap on chip exports from American chipmakers only compounded the industry's tumultuous start to the week.According to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-15/us-weighs-capping-exports-of-ai-chips-from-nvidia-and-amd-to-some-countries">Bloomberg</a>, the Biden administration has been in talks to cap sales of advanced AI chips from some American chip companies—including Nvidia—to certain countries in order to protect national security.The plans would likely target Persian Gulf countries, which are increasingly interested in AI, sources told the outlet, and would build on existing restrictions that originally set out to curb China's progress in AI. Previously implemented restrictions have regulated chip shipments to over 40 countries in the Middle East, Africa, and Asia to prevent chip technology from flowing to China.

Chipmakers tumble as ASML forecast cut issues a growth warning to the sector

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.

Watch out for the semiconductor supercycle before you start buying stocks like Nvidia

<keyword id="19955404" type="General" weightage="20" keywordseo="finance" source="keywords">Finance</keyword> Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> presented the Union <keyword id="19936553" type="General" weightage="100" keywordseo="budget" source="keywords">Budget</keyword> 2024-25 on Tuesday, outlining a detailed financial roadmap aimed at driving economic growth and ensuring fiscal stability. The budget reveals a comprehensive picture of government revenues and expenditures, highlighting major <keyword id="20439675" type="General" weightage="20" keywordseo="allocations" source="keywords">allocations</keyword> to key <keyword id="20353247" type="General" weightage="20" keywordseo="sectors" source="keywords">sectors</keyword> and <keyword id="19915334" type="General" weightage="20" keywordseo="schemes" source="keywords">schemes</keyword>. The <keyword id="19945274" type="General" weightage="20" keywordseo="revenue" source="keywords">revenue</keyword> to the government is generated from multiple sectors. Income tax contributes 19 per cent, borrowings and liabilities stand as the largest source at 27 per cent, and <keyword id="19951327" type="General" weightage="20" keywordseo="gst" source="keywords">GST</keyword> along with other taxes accounts for 18 per cent. Corporation taxes contribute 17 per cent, followed by non-tax receipts at 9 per cent, customs at 4 per cent, excise duty at 5 per cent, and non-debt capital receipts at 1 per cent. On the <keyword id="19936655" type="General" weightage="20" keywordseo="expenditure" source="keywords">expenditure</keyword> side, the budget outlines significant allocations to various public sectors. Interest payments consume 19 per cent of the total expenditure, central sector schemes account for 16 per cent, and states' tax devolution takes up 21 per cent. Subsidies represent 6 per cent of the spending, while defence expenditures stand at 8 per cent. The Finance Commission and other transfers take up 9 per cent, centrally sponsored schemes another 8 per cent, pensions 4 per cent, and other expenses 9 per cent. In terms of sector-specific allocations, defence receives the highest allocation at Rs 4,54,773 crore. Rural development is allocated Rs 2,65,808 crore, reflecting the government's focus on boosting rural economies. Agriculture is set to receive Rs 1,51,851 crore, while home affairs are allocated Rs 1,50,983 crore, underscoring the importance of internal security. Education, a critical sector for future growth, is allocated Rs 1,25,638 crore. The IT and Telecom sector, pivotal for digital transformation, receives Rs 1,16,342 crore. Health is allocated Rs 89,287 crore, emphasising the ongoing commitment to improving healthcare infrastructure. The energy sector is earmarked Rs 68,769 crore, social welfare Rs 56,501 crore, and commerce and industry Rs 47,559 crore. The budget also highlights significant increases in allocations to major schemes. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) sees an increase from Rs 60,000 crore in FY23-24 to Rs 86,000 crore in FY24-25, aimed at enhancing rural employment. Nuclear power projects receive a boost from Rs 442 crore to Rs 2,228 crore, while the development of semiconductors sees a substantial increase from Rs 3,000 crore to Rs 6,900 crore, underscoring the push towards technological advancement. Direct Benefit Transfer for LPG is allocated Rs 1,500 crore, up from Rs 180 crore, to support energy access. Solar power allocation doubles from Rs 4,970 crore to Rs 10,000 crore, reflecting the government's commitment to renewable energy. This budget, with its detailed allocations and revenue plans, underscores the government's strategy to foster economic resilience, technological advancement, and sustainable growth.

Fund allocations to key sectors and schemes hiked in budget

IT services major Tata Consultancy Services has entered into a partnership with the <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>n Institute of Technology-Bombay, to develop what it said is India's first <keyword id="21836125" type="General" weightage="20" keywordseo="quantum-diamond-microchip-imager" source="keywords">quantum diamond microchip imager</keyword>. According to a statement from the IT services major on Tuesday, this to-be-developed sensing tool will hold the potential to unlock new levels of precision in the examination of <keyword id="20649044" type="General" weightage="20" keywordseo="semiconductor-chips" source="keywords">semiconductor chips</keyword>, reduce chip failures and improve the energy efficiency of electronic devices. Over the next two years, experts from <keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords" meta.keywordsubtype="org" meta.entityname="TCS" meta.hostid="268" meta.entityid="TCS">TCS</keyword> will work with Dr Kasturi Saha, Associate Professor in the Department of Electrical Engineering of IIT-Bombay to develop the tool. Semiconductor chips are an essential component of all modern electronic devices. These chips act as the brain of devices across industries such as communications, computing, healthcare, military systems, transportation, clean energy, and what not. Professor Saha said, "By working together, we aim to transform various sectors, including electronics and healthcare, and propel India forward through ground-breaking technologies and products aligned with National Quantum Mission's Quantum Sensing and Metrology vertical." Dr Harrick Vin, Chief Technology Officer, TCS, noted that the Second Quantum Revolution is progressing at an unprecedented speed, making it imperative to pool resources and expertise to build cutting-edge capabilities in sensing, computing, and communication technologies. "We firmly believe this initiative will have a transformative impact on various industries and society, with applications ranging from electronics to healthcare, and beyond. By working together, we can drive innovation and create a brighter future for all," said the CTO. National Quantum Mission, an initiative of the central government, aims to position the nation as a global quantum technology leader. As semiconductors continue to shrink in size, traditional sensing methods lack the precision and capabilities to detect anomalies in the chips, TCS asserted. The to-be-developed Quantum Diamond Microchip Imager can image magnetic fields, enabling a non-invasive and non-destructive mapping of semiconductor chips, much like an MRI at a hospital. It uses the defects in a diamond's structure, known as Nitrogen-Vacancy (NV) centers, together with the other hardware and software for detecting and characterizing anomalies in semiconductor chips. The semiconductor industry in India is still in a nascent stage, with various local and multinational companies intending to tap its vast potential. Union Minister for Communications and Electronics and IT, Ashwini Vaishnaw, earlier this year said, that by the end of 2024, India would witness the launch of the first indigenous semiconductor chip. Currently, four semiconductor units -- three in Gujarat and one in Assam -- are in under construction stage. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank">Samsung Galaxy F55 with leather back launched in India starting at ₹26,999</a><a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank">Lenovo LOQ 15 review – gaming laptop with a sturdy design</a>

TCS ties up with IIT Bombay to develop India's first sensing tool for semiconductor chip imaging

The <keyword id="20161017" type="General" weightage="20" keywordseo="Vedanta-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Vedanta Group" meta.hostid="153" meta.entityid="Vedanta Group">Vedanta Group</keyword> is aiming to invest USD 20 billion across all its businesses in India over the next four years, its Chairman <keyword id="19919725" type="General" weightage="20" keywordseo="Anil-Agarwal" source="keywords">Anil Agarwal</keyword> said on Wednesday. The group will sell the steel business only at the right price, and is committed to continue running it if it does not get the right price, Agarwal told PTI on the sidelines of a company event. "At the moment, we have a plan to invest USD 20 billion across sectors in four years time," Agarwal said. The investments will be focused on technology, electronics, and glass businesses apart from the other activities that the group is engaged in, he said. Semi-conductors and glass -- used in making smartphones and laptops screens -- are very essential from a future perspective, he said, adding that the group is present in both the businesses already. It has land in Gujarat for a <keyword id="19920003" type="General" weightage="20" keywordseo="semiconductor" source="keywords">semiconductor</keyword> plant and is scouting for a credible and strong partner, he said. On the glass front, it is already into manufacturing in other countries but not in India, Agarwal said, hinting that the plan would involve undertaking some capacity building locally. Meanwhile, when asked about the steel business sale, which was supposed to be sold by March, Agarwal said a transaction depends on getting the right price. "We are committed... if we get the right price to divest it," he said, adding that if the group doesn't get the right price, it will choose to continue running the business by itself. He said the steel business is profitable and has really committed people who can ensure that it continues going ahead. Amid concerns around the debt position of the company, Agarwal said the overall debt of the company stands at only USD 12 billion at present and seemed to suggest that the same is manageable. He said the group has never defaulted on any of its debt repayment commitments, and that each of the businesses will require heavy investments if it were to be started from scratch. The London-based billionaire said he "is in very critical areas" and added that every developed economy has made it big by focusing on minerals under the ground. He rued that there are concerns on the environmental impact of mining in India. Foreign investors are very keen to take bets on India, he said, hoping for "simplification and encouragement for entrepreneurs after the elections". The billionaire from Bihar said he wants to play the role of a catalyst in helping his home state grow, but "there is a need for strong support from the policy front for it". <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> wants to take the total number of Nand Ghars -- under which it takes care of children's nutritional requirements in villages -- to 25,000 over the next two years from the present 6,000, Agarwal, who was speaking on the sidelines of an event to announce scaling up of the group's philanthropic activities, said. The ultimate plan is to increase the number of beneficiaries to over 7 crore children and 2 crore women, he said. Agarwal said the group may also look at investing in the entertainment business going forward but did not offer any timeline or investment details. All successful corporates in the world have interests in education, healthcare, sports and entertainment, he said, conceding that he "does not understand entertainment a lot". More than profits, entertainment has to be looked at a means to instil the right cultural values, he added. 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Vedanta plans to invest $20 bn in India in 4 years; will sell steel biz only at right price: Agarwal

New Delhi, The Union <keyword id="19901283" type="General" weightage="20" keywordseo="cabinet" source="keywords">Cabinet</keyword>, chaired by Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>, on Thursday approved the establishment of three semiconductor fabrication (fab) units that will start construction within the next 100 days and generate direct employment of 20,000 advanced technology jobs and nearly 60,000 indirect jobs. The semiconductor fab with 50,000 wafers per month capacity will be set up by Tata Electronics Private Ltd (TEPL) in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC), Taiwan, in Dholera, Gujarat. This fab will be constructed with an investment of Rs 91,000 crore, said Union IT Minister <keyword id="19904138" type="General" weightage="20" keywordseo="ashwini-vaishnaw" source="keywords">Ashwini Vaishnaw</keyword>. This fab will cover high-performance compute chips with 28 nm technology, and power management chips for electric vehicles (EVs), telecom, defence, automotive, consumer electronics, display, power electronics, etc, according to the government. Another semiconductor assembly, testing, monitoring, and packing (ATMP) unit with a capacity of 48 million per day by Tata Semiconductor Assembly and Test Pvt Ltd (TSAT) in Morigaon, Assam, will be set up with an investment of Rs 27,000 crore. TSAT semiconductor is developing indigenous advanced semiconductor packaging technologies including flip chip and ISIP (integrated system in package) technologies. It will cover sectors like automotive, electric vehicles, consumer electronics, telecom and mobile phones, etc, according to the government. The third semiconductor ATMP unit for specialised chips will be set up by <keyword id="20541983" type="General" weightage="20" keywordseo="cg-power" source="keywords">CG Power</keyword>, in partnership with Renesas Electronics Corporation, Japan and <keyword id="20776317" type="General" weightage="20" keywordseo="stars-microelectronics" source="keywords">Stars Microelectronics</keyword>, Thailand in Sanand, Gujarat. "This unit with a capacity of 15 million per day will be set up with an investment of Rs 7,600 crore," the Centre said. The CG power semiconductor unit will manufacture chips for consumer, industrial, automotive, and power applications. Within a very short time, the India Semiconductor Mission has achieved four big successes. With these units, the semiconductor ecosystem will get established in India. India already has deep capabilities in chip design. With these units, the country will develop capabilities in chip fabrication. Advanced packaging technologies will be indigenously developed in India with Thursday's announcement. These units will accelerate employment creation in downstream automotive, electronics manufacturing, telecom manufacturing, industrial manufacturing, and other semiconductor consuming industries. The 'Programme for Development of Semiconductors and Display Manufacturing Ecosystem' in India was notified in 2021 with a total outlay of Rs 76,000 crore. In June last year, the Cabinet had approved the proposal of US-based Micron for setting up a semiconductor unit in Sanand, Gujarat. Construction of this unit is progressing at a rapid pace and a robust semiconductor ecosystem is emerging near the unit.

Cabinet approves 3 semiconductor fab units, to generate 80,000 jobs

Last week, the President of the United States, <keyword id="19919748" type="General" weightage="20" keywordseo="joe-biden" source="keywords">Joe Biden</keyword>, announced significant tariffs on a range of <keyword id="20139085" type="General" weightage="20" keywordseo="Chinese-products" source="keywords">Chinese products</keyword> to protect American workers from unfair trade practices. The targetted measures include a 100% tariff on <keyword id="6354973" type="General" weightage="20" keywordseo="electric-vehicles" source="Orion">electric vehicles</keyword>, a 50% tariff on semiconductors and solar cells, and a 25% tariffs on batteries, steel and aluminium products, some critical minerals, and essential health equipment like medical gloves, syringes and needles. In his address from the Rose Garden of the White House, Biden said America can continue to buy any kind of car they want, "but we're never going to allow China to unfairly control the market for these cars. Period." He claimed that the Chinese government has been investing state funds in various Chinese companies for years, spanning industries across the above-mentioned sectors. How does this brewing geopolitical <keyword id="20736760" type="General" weightage="20" keywordseo="trade-war" source="keywords">trade war</keyword> impact <keyword id="20742235" type="General" weightage="20" keywordseo="Indian-firms" source="keywords">Indian firms</keyword>? Experts say the impact could be in two ways, benefitting some sectors, while harming the few others. Let’s start with the bad news. <cmsannotation type="cmsannotation" annotationid="Threat to Indian firms" comment="subhead" text="Threat to Indian firms">Threat to Indian firms</cmsannotation> Beijing offers significant subsidies on most of these products, leading to surplus production that exceeds domestic and even regular export demand. Subsequently, Chinese companies are known to flood the global markets with surplus products at unreasonably low prices, forcing local manufacturers out of business in many countries, including <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>. A prime example of this in practice can be found in the steel sector, where weak domestic demand is pushing the world’s largest steel producer China to offload surplus production into Indian markets at cheaper prices. Indian steel manufacturers are already struggling to compete with a glut of cheaper Chinese steel, with shipments nearly doubling year-on-year in the financial year ending March 2024. “India is already under grave threat of import because all major steel consuming economies are shutting their doors on these steel producing countries. We are highly vulnerable to surging and predatory import,” said Alok Sahay, secretary general of the Indian Steel Association, to Reuters. Global trade experts say that a majority of Chinese products are sold at unreasonably low prices in global markets because the companies in these sectors do not have to worry about profits. They are heavily subsidised by the Chinese government. <keyword id="20279291" type="General" weightage="20" keywordseo="Steel-Authority-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Steel Authority of India" meta.hostid="261" meta.entityid="Steel Authority of India">Steel Authority of India</keyword>’s (SAIL) chairman Amarendu Prakash also said that they are keenly watching Chinese imports after the US tariff increases. Additionally, China has been accused of employing anti-competitive strategies like compelling foreign companies to transfer their technology in order to operate in China. These factors have led to the US effectively shutting its door on several Chinese products through heightened tariffs, and other developed markets like Canada are also likely to follow suit. White House also emphasised that it continues to consult with its partners and allies who are facing similar threats from China’s unfair trade practices and are keen on taking action. If more and more global markets restrict entry of Chinese products, the risk of the majority of such products being dumped in neighbouring India increases drastically. Trying to block Chinese excess production "is like squeezing a balloon. It shrinks in one place and pops out in another," William Reinsch, a trade expert at the Center for Strategic and International Studies in Washington, tells Reuters. <cmsannotation type="cmsannotation" annotationid="An opportunity also arises" comment="subhead" text="An opportunity also arises">An opportunity also arises</cmsannotation> While some products risk being dumped into the Indian market, in a few other cases, Indian firms could benefit from fresh openings in the lucrative US market. "Of the products affected, India has opportunities in face masks, PPE, syringes &amp;needles, medical gloves, aluminium, iron, and steel. Opportunity may come in China also with retaliation, provided we have market access in products targeted by China," Ajay Sahai, Director General of the Federation of Indian Export Organisations (FIEO), told ANI. However, China is not likely to retaliate against the US tariffs at the moment, say experts, though the country’s Ministry of Commerce said it would take 'resolute measures to safeguard its own rights and interests' "China's economy is fragile. With household spending and the property market on the wane, manufacturing for export markets is one of its few bright spots. Beijing will not want to cut off its nose to spite its face. More broadly, China is desperately trying to encourage new foreign investment. Rash retaliatory action could spoil its case," Moody's Analytics explained in a recent report. Out of China's USD 420 billion exports to the US, only USD 18 billion is impacted due to the latest hike in tariffs — representing slightly over 4% and therefore considered marginal. But Sahai says that this market will continue to grow with time and provides an opportunity to India and other competitors to chip in the supply gap. Ajay Srivastava, the founder of the Global Trade Research Initiative (GTRI), also echoes Sahai’s opinions. He emphasised that the increased duties on Chinese face masks, syringes, needles, medical gloves, and natural graphite offer a substantial opportunity for India, as quoted by ANI. "By ramping up production and export of these in-demand products, India could enhance its trade footprint in the US market," he added. In terms of products like electric vehicles and semiconductors, India remains a net importer, and therefore, may not be in a position to capitalise right now. In the long term, however, as India begins semiconductor production at scale in 2025, there will be opportunities to export some of it to the US and other European countries, offering fresh impetus for domestic manufacturing. As the security risks associated with importing Chinese semiconductors prompts more and more trade barriers from the Western countries, demand for supply from India is likely to grow. Efforts are already underway for the establishment of four large semiconductor plants in India, with three located in Gujarat and one in Assam. Last fiscal year, Indian exports to the US dipped marginally by 1.32 per cent to $77.5 billion as against $78.54 billion in 2022-23. The new development now gives an unique opportunity to turn the tide over the next few years. Overall, some sectors like steel and aluminium do face a serious challenge due to the fresh US tariffs on Chinese products. However, the development will open new avenues for Western market entry and expansion for several other products. (With inputs from agencies)

You Searched For "semiconductor sector" and got 11 results

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