India has advanced under the dynamic leadership of PM Modi. India's economy achieved a historic milestone on Sunday, November 19, surpassing the $4 trillion mark in nominal terms for the first time ever in its GDP.
On Wednesday, NXP CEO Kurt Sievers met Prime Minister Narendra Modi to strengthen India’s semiconductor ecosystem and support its ambitions of becoming a chip-manufacturing nation under the India Semiconductor Mission (ISM). The meeting focused on discussing policy frameworks, emerging technologies, and ways to enhance India’s value creation and manufacturing capabilities. NXP, the top ten chip company worldwide, designs and manufactures semiconductors, and has centres of excellence in India.
Sievers recognised India’s aspiration to become a prominent participant in the worldwide electronics supply chain and its effort to expand the electronic domestic manufacturing sectors to US$ 300 billion by 2026. According to Sievers, India’s commitment to becoming one of the biggest electronic manufacturers’ hubs, was demonstrated by PM Modi and his government, highlighting the strategic significance and growth potential of the electronic sector. Nevertheless, NXP did not disclose any intentions to begin semiconductor production in India.
Sievers informed PM Modi about NXP’s proficiency and activities in India and promised the company’s assistance in promoting the growth of India’s diverse domestic STEM workforce and backing the thriving start-up ecosystem in the country. Besides that, India Semiconductor Mission (ISM) is a government programme launched in December 2021 with an outlay of â¹ 76,000 crore.
“Meeting with Prime Minister Modi to discuss India’s rapidly growing semiconductor development and manufacturing atmosphere was a privilege. Both of us agreed that India’s electronics manufacturing and design industry has a bigger possibility to become a much prominent player in the global electronics value chain. NXP, which has operated in India for more than five decades, is designing semiconductor solutions in demand across the global auto, industrial, IoT, and secure edge markets at our centres of excellence here,” Kurt Sievers said.
He further added, “Our skilled Indian team has produced hundreds of patents and is a powerhouse of NXP’s global network of creative teams. We are committed to driving India’s value creation for the global electronics industry spectrum even further.”
NXP, as part of its mission, to enable a better, safer, secure, and more sustainable world, collaborates with the Ministry of Electronics & IT (MeitY), Invest India, Startup India, India Electronics, the Indian Electronics and Semiconductor Association (IESA) and state governments on a range of initiatives and projects. NXP takes an active approach to engage with startups to develop innovative and long-lasting solutions.