Will the PM's US Visit Soar Semiconductor Manufacturing in India?
Around the world, from Silicon Valley to remote Indian villages, technology is altering how we live. The semiconductors, the base component of hardware technology products, are inside everything from cellphones to the space shuttle, electric scooters, and bullet trains. The complexity of the semiconductor manufacturing process, along with the current chip deficit, makes it a complex global problem. For items that are already well established in a manufacturing line, typical wait times can surpass four months. One to three years make up the entire life cycle. It takes 12 to 18 months to set up a manufacturing facility with the entire necessary infrastructure and another 12 to 36 months to develop a product that can be produced repeatedly. The entire process takes more than four months. In other words, a semiconductor chip results from an elaborate manufacturing process, talented engineers, and supportive public policy.
India only meets one of the three criteria for chip self-reliance. Government statistics show that 100 percent of India's semiconductors and 94 percent of its electronics are imported. With a sense of urgency, digital India projects aim to meet all three requirements. The good news is that India is making an effort to establish a solid chip design base that can be expanded to a research and development focus for product development and IP intellectual property creation.
Micron Technology's $ 2.7 Billion Semiconductor Testing and Packaging Business
The Union Cabinet gave its approval to Micron Technology's $ 2.7 billion semiconductor testing and packaging business prior to Prime Minister Narendra Modi's trip to the US. Gujarat will be the location of the factory, and it will get up to $1.34 billion in production-related incentives. It is said that Sanand city will be the location of this factory. No chips will be created at this facility; instead, Micron will buy, and package chips for its clients, or other businesses may test their chips here before shipping. 5,000 employments will be created by this plant, according to media sources.
The US-based semiconductor company's plans to construct a facility in India were first reported earlier, but authorization was still pending. The clearance of the Micron factory coincides with the US's efforts to diversify away from China due to the associated commercial risk.
PM’s Visit to US
During his busy state visit to the US from June 21 to June 23, Prime Minister Narendra Modi l addressed the Indian-American community. It is the PM's fourth significant speech to the public since he took office in 2014. The most recent one, also known as the Howdy Modi event, was a massive gathering that took place on September 22, 2019, at the NRG Stadium in Houston. PM Modi spoke to an audience of more than 50,000 people, many of whom were Indian-Americans. President Donald Trump was personally with him. A US president attending a diaspora gathering for a foreign leader on US soil was unusual. This not only demonstrated President Trump's admiration for Prime Minister Modi's stature as a leader, but it also appeared to further his own objectives. In order to win re-election, the president intended to connect with influential Indian-American voters who often supported the Democratic Party.
Recent years have seen an increase in Republican and Democratic wooing of the Indian-American population. Indian immigrants make up barely one percent of the US population or 45 lakh individuals, yet they provide six percent of the income tax collected in the country. The second-largest immigrant population in the US resides there. In the US, more than 40 Indian Americans have won elections to a variety of offices. The members of the House are Raja Krishnamoorthi, Pramila Jayapal, Ro Khanna, and Ami Bera. There are also a few mayors. In the US, there are 35 judges of Indian descent, a record number for the community in terms of judicial nominations, according to a report.
The growth of Indian-American politicians in recent years is evidence of the community's expanding influence. Breakthroughs have been made by notable individuals like Kamala Harris, the first woman of color of Indian descent to hold the office of vice president. The second generation of Indian Americans started participating more actively in political engagement and lobbying as they grew older. Recognizing the value of representation, they worked to change political discourse and affect public policy at the municipal, state, and federal levels.
owever, there are significant obstacles to overcome. The Indian diaspora, particularly in the US, can take the lead in overcoming these obstacles and smoothly advancing India's growth story
The Indian-American community has frequently met with visiting Indian prime leaders. That has also been done in other nations. But shortly after he took office, Modi saw their growing importance and made a significant effort to engage with them. He sought out the Indian diaspora wherever he went and helped them establish ties with India. He has characterized them as India's ambassadors who are crucial in advancing the nation's reputation, developing trade, and forging political links.
Modi's charismatic leadership style is one of the main factors contributing to his close ties to the Indian diaspora abroad. He has developed a close relationship with the diaspora thanks to his renowned oratory abilities and capacity for emotional connection. PM Modi is also aware of the diversity of the diaspora, which is a reflection of Indian society at home. He looks for everyone, regardless of their political views. But he seems to have forged a unique connection with the thriving Indian-American population in the US. He is aware that America is the only superpower in the world. With visiting dignitaries, an ever-growing number of lobbyists, and power brokers, Washington DC, is a busy capital. Governments from all over the world compete for the president's attention by vying for admission to the Oval Office. Having individuals of Indian ancestry in the administration is beneficial in many ways.
Quid pro quo is largely accepted in American culture. As a result, Modi provides enormous potential for Indian-Americans and other investors back home. It was not surprising to see a significant number of influential business figures from both nations at the Howdy Modi event. It provided a chance to advance bilateral investment and commerce between the US and India. Additionally, through programs like the Pravasi Bharatiya Divas (Non-Resident Indian Day) and the Overseas Citizen of India (OCI) program, which offers certain perks and privileges to overseas Indians, PM Modi's administration has improved ties with the Indian-American community.
The previous nine years have seen an extraordinary growth narrative for India. However, there are significant obstacles to overcome. The Indian diaspora, particularly in the US, can take the lead in overcoming these obstacles and smoothly advancing India's growth story.