Uttar Pradesh is all set to get a semiconductor manufacturing unit soon, union minister of state for commerce & industry Jitin Prasada has said.
Addressing the 21st Indo-US Economic Summit organised by the Indo-American Chamber of Commerce (IACC) in New Delhi yesterday, Prasada said India is a major investment destination across sector including semiconductors.
Within the country, UP is among the top states, and it would turn out to be the growth engine of India going ahead, he said.
“We will start work on a semiconductor plant in UP also. I am confident that the state will be among the few places to have such niche facilities,” Prasada noted.
The statement comes days after India and the US tied up set up a semiconductor fabrication plant in the country.
“The Prime Minister recently signed an MoU for chip manufacturing with the US. These technologies will be more and more visible in the day-to-day life going forward, and its necessary that we understand these technologies at the earliest,” the minister said adding that semiconductors are key to the India’s digital transformation goals.
Further, he said apart from semiconductors and Artificial Intelligence (AI), the Indo-US partnership will explore innovations and capacity building.
Prasada referred to the flow of data between countries and the need for robust cyber security ecosystem. He said cyber security is the need of the hour given the divergence of modern warfare.
He underlined that the growth trajectory of India is resilient with the domestic fundamentals being sound.
On the Indo-US bilateral ties, Prasada said the partnership has turned equal with both the counties mutually benefitting from the collaboration.