Delusional India to be chip power by 2030

[Nefertiti]

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India rules out joining world’s largest trade deal, accuses China of ‘very opaque’ trade practices
PUBLISHED SUN, SEP 22 202410:03 PM EDT

“India is not going to join the RCEP because neither did it reflect the guiding principles on which ASEAN was started, nor is it in the nation’s interest to do a free trade agreement with China,” India’s Minister of Commerce and Industry Piyush Goyal told CNBC’s Tanvir Gill in an interview.

The RCEP deal was signed in 2020 by 15 Asia-Pacific countries — which makes up out 30% of global GDP — and came into force in January 2022. The countries are the 10 members of the Association of Southeast Asian Nations, and five of their largest trading partners, China, South Korea, Japan, Australia and New Zealand.

Negotiations for the RCEP started in 2013 and initially included India, which some members viewed as a counterbalance to China. However, in 2019, India chose not to join RCEP, citing unresolved “core interest” issues. Back then, India did not expand on what some of those core unresolved interests were.

The minister also made a strong case for India to become a Taiwan “plus one” semiconductor country.

“We expect the demand for semiconductor products to be about $100 billion by 2030, and will grow exponentially thereafter,” he said, adding that interest in India’s semiconductor industry is expanding “by leaps and bounds.”

India aims to establish itself as a major chips hub similar to the U.S., Taiwan, and South Korea, actively seeking foreign companies to set up their operations in the country.

India’s chip strategy has two main components: attracting foreign companies to establish operations and invest in the country, as well as forming partnerships with other major semiconductor nations, such as the U.S. In 2021, the government approved a $10 billion incentive program for the sector, which is also available to foreign companies.

As of 2024, Taiwan, the world’s chipmaking powerhouse, is expected to hold around 44% of global market share, followed by China with 28% and South Korea with 12%, according to a report. The U.S. and Japan account for 6% and 2%, respectively.

The authors of the report, Taiwan consultancy Trendforce, said Taiwan’s global capacity share in advanced manufacturing processes is expected to decrease to 40% by 2027, while South Korea’s could see a 2% decline. In the same time period, China’s is expected to increase by 3% to 31%.

https://www.cnbc.com/2024/09/23/india-rules-out-joining-rcep-accuses-china-of-non-transparent-trade-practices.html

[Nefertiti]

RCEP is ASEAN + china, Japan, South Korea, Australia, New Zealand. It replaced TPP. Australia and Japan are China archrivals but maintain trade surpluses with China so they happily joined... but not Modi big Hindu ego.

India should be positioning as China Plus One nearshoring alternative and keeping their loudmouth silent. But no they want to be chip power. Of course looking at the trends nothing remotely indicates India has any chance to be chip power in the near future.

Foundry capacity market share to decline in Taiwan, Korea until 2027, while China, US on the rise



https://www.trendforce.com/news/2024/05/14/insights-trendforce-foundry-capacity-market-share-of-advanced-process-to-decline-in-taiwan-korea-until-2027-while-us-on-the-rise/