India is becoming increasingly important in the chip industry
India is an attractive country for the technology industry and the government is aware of this position, as the Prime Minister himself has stated that they are seeking to position themselves as one of the main alternatives to China.
An example of this is that some of the most important companies in the gadget industry, such as Apple and Samsung, are already carrying out a good part of their device production in that country and the government itself is seeking to expand its reach.
This evolution was achieved in a period of six years, during which time it went from being an assembler of low-end iPhones to being the main manufacturer of the latest generation models, leaving Foxconn’s facilities in China behind.
According to Canalys data, the number of iPhones produced in India in 2023 was expected to be 25 million units (about 12% of Apple’s total volume), while Counterpoint Research noted that smartphone production grew at a CAGR of 23% between 2014 and 2022.
Earlier this month, technology minister Ashwini Vaishnaw said India is trying to develop the entire chip value chain, a process that involves five stages: research and development; design and validation; manufacturing; assembly, testing and packaging; and distribution.
According to data cited by the Indian government, the electronics sector in India is expected to be worth around $500 billion by the end of this decade.
Another sign of India’s importance and strength in the technology sector is that during his visit to the United States, Modi not only met with political leaders, but also with high-level executives, such as Sundar Pichai, CEO of Google, or Jensen Huang, CEO of Nvidia.
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