Post-Modi visit, ICEA task-force to push Indo-US electronics trade
Micron Technology bets big with semiconductor plant in Gujarat
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The India Cellular and Electronics Association (ICEA) said that it is setting up a task-force to ensure that the current electronics trade between India and the US goes up from an estimated $8 billion to $100 billion in a decade.
The warmth in the India-US relations was perceptible during the interactions with US National Science Foundation (NSF) and launching the initiative on Critical and Emerging Technology (iCET) that will aid in cooperation in futuristic areas such as artificial intelligence, quantum computing, space exploration, semiconductors and defence technology.
“We are confident that this partnership will help usher in a new era of innovation and collaboration between India and the US,” said Pankaj Mohindroo, Chairman, ICEA.
“We are setting up a task-force to ensure that the current electronics trade between the two countries goes up from an estimated $8 billion to $100 billion in a decade. The role of lead firms of global value chains (GVCs) will be crucial but, at the same time, new jobs and opportunities for Indian businesses and startups will be created,” he added.
US chipmaker Micron Technology last month signed a memorandum of understanding (MoU) with the Centre to construct its first semiconductor plant in the country. It has announced its plans to set up a semiconductor assembly and test plant in Gujarat with a total investment estimated at $2.75 billion. ICEA said that the phenomenal speed with which Micron investment has taken shape is a testimony to the tremendous success and the outcome-oriented state visit of the Prime Minister Narendra Modi to the US.
