This was on March 13, 2024 (313 lucky date) that PM Modi heralded India’s tryst with the semiconductor manufacturing as groundwork is complete with a mammoth funding of 1.24 lakhs crore 1 crore equals 10 million).

Projects Trinity: (Technology in Fintech)

One of the three projects is an OSAT (outsourced semiconductor assembly and test) facility located in Sanand, Gujarat; the other two are semiconductor production facilities located in the Dholera Special Investment Region (DSIR) of Gujarat and Morigaon, Assam.

From PM’s Mind: (Latest news on Fintech)

 The prime minister emphasized the necessity for a dependable supply chain in light of the disruptions brought on by the coronavirus epidemic and noted that only a small number of countries in the globe currently manufacture semiconductors.

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He emphasized India’s tech sector, nuclear, and digital power while noting that the nation is eager to play a significant part in this.

He elaborated on future ambitions, saying that “the day is not far when India will become a global power in the manufacture of products for the semiconductor sector.”

India is ready to take on commercial production for the semiconductor business. Tech news updates in India.

He underlined that policy decisions made now will provide India a strategic advantage in the future and stated that the country has benefited from many foreign investors due to “ease of doing business” and simplified rules.

Modi announced that India has emerged as the world’s second-largest producer of mobile phones. Technology in fintech to trigger business operations.  

He also emphasized the launch of India’s Quantum Mission, the creation of the National Research Foundation to foster innovation, and the growth of India’s AI Mission.

Technology used in fintech has a mission.

In addition, he said that India is progressing toward technological advancement rather than just technology adoption.  

Invoking his video link, PM said, “Made in India and Designed in India chips will play a major role in taking India towards self-reliance and modernisation…After missing out on the first three industrial revolutions due to various reasons, India now is moving with an intention to lead Industry 4.0, the fourth industrial revolution.”

Why Semiconductor Manufacturing Is A Game-Changer? (Technology in Fintech)

These chips, which account for 15% of Taiwan’s GDP, power everything from electric cars to cell phones. More than 60% of the world’s semiconductors, including the most sophisticated ones, are made in Taiwan. Tech news updates in India.

Taiwan Semiconductor Manufacturing Corporation (TSMC) is the sole manufacturer of the majority. The most sophisticated have only been produced in Taiwan up till now.

The globe has a strong incentive to defend Taiwan because of its semiconductor sector, which is known as the “silicon shield.”

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However, the sector most impacted by the division between China and America is chips. Currently, some of the shield is being moved abroad.

Dear reader, amid all such geo-political and geo-economic turmoil, India’s foray into the semi-conductor manufacturing is being seen as a mega step. Tech news updates in India.

Taiwan Hegemony: (Technology used in fintech is supreme)

The 1980s saw the beginning of Taiwan’s rise to prominence in the global semiconductor market’s manufacturing sector.   

The top semiconductor companies in the world back then, like Texas Instruments and Intel, had their own production facilities and handled the chip fabrication process locally in the United States.

But as chips got more complicated, making them became a very expensive process.

The first “contract manufacturer” in history, Taiwan Semiconductor Manufacturing Co. 

(TSMC), was established in 1987 by Morris Chang and is a company that specializes only in chip manufacturing as opposed to design.

This supply chain innovation allowed semiconductor engineering firms to build any chip they planned, no matter how complex or large, without being constrained by their own fabrication capability. Instead, they could rely on TSMC to produce whatever chip they designed.

Business Gained Momentum: (Fintech news today India)

The business strategy was wildly successful and helped give rise to the “fabless model” in the US.

Businesses that use this approach make significant investments in semiconductor design and research while licensing their manufacturing to third parties like TSMC, who manufacture the chips themselves.

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The United States’ ability to manufacture semiconductors has been eroded by this trend, with its share of the world market falling from about 40% in 1990 to about 12% in 2020.

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Its place was taken by Taiwan and TSMC, which rose to prominence as crucial links in the semiconductor supply chain with undeniable market domination.

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In fact, 54 percent of global foundry revenue in 2020 came from TSMC alone.

In contrast, Global Foundries, the biggest manufacturing corporation in the United States, made up just 7% of the total.

US Tech Heavyweights Fantasied Taiwan Semi-Conductors: (Fintech News Latest from veterans)

Apple, Amazon, Google, Qualcomm lived and thrived on Taiwan.

Nearly 90% of the chips used by some of the biggest IT companies in the US,  are sourced from contract manufacturers in Taiwan.

Due to Taiwan’s success, comparable businesses have since emerged in South Korea, Japan, and Taiwan, together accounting for around 80% of the world’s fabrication capacity.

Together with Samsung of South Korea, Taiwan has emerged as a leader in the foundry industry due to TSMC, one of just two businesses worldwide capable of producing the most sophisticated 5-nanometer semiconductors.

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Well dear reader, as new events unfold, we shall have you covered with our tech news updates in India. Keep clicking !!!