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India has almost everything required for a successful semiconductor industry but it still needs to work on re-establishing credibility, said the head of the world’s top advocacy group representing the semiconductor industry.

“It’s now or never (for India in the semiconductor industry),” Ajit Manocha, President and CEO of Semiconductor Equipment and Materials International (SEMI), told PTI in an interview.

“It takes years to come to the speed and this is a time to do it. Also if we don’t do it now, I think we’ll lose credibility forever,” said Manocha, adding that there might be a couple of announcements before the prime minister’s US visit, which would put the Indian semiconductor industry on the right track.

From near-zero levels just a year-and-a-half ago, India is now well on its way to having 100 semiconductor design startups by 2024. The Rs 76,000-crore incentive scheme for chip-making, the large talent pool, and the skilling programme are playing to the country’s strengths and marking India’s rise as a semiconductor nation.

“India, in my opinion, has almost everything you need to have a successful semiconductor industry in the country. We have talent, we have democracy, the largest democracy in the world. We have a market. The population is the market. We are 1.4 billion now, bigger than even China.

“And language is a big plus. Virtually everybody speaks English. Plus, we comply with international laws. So what more do you need, you have everything to really attract industry’s equal ecosystem.

“We are fortunate now that the country has two leaders, two ministers who are doubly background like Rajeev Chandrashekhar and Ashwini Vaishnav. Then we have leaders like Prime Minister (Narendra) Modi, who is very visionary and a very pro country. So, I think the, all the stars are aligned finally,” he said.

Based out of Silicon Valley, SEMI has more than 2,500 member companies and 1.3 million professionals worldwide to advance the technology and business of electronics design and manufacturing. Over the last few years, there has been a close cooperation between India and SEMI.

“But I think India still has to really work with the rest of the industry to reestablish credibility. The policy is definitely a starting point,” said Manocha who is a member of the India Semiconductor Mission (ISM).

“I’ve been involved with several meetings with ISM. They are approaching the right way. We have evaluated a few applicants. I can’t share the details yet because they are not public knowledge. But it’s looking promising that at least one or two announcements will, should come.”

The United States, Manocha said, can play a key role in helping India build its semiconductor industry. It can help India with technology, he added.

The US is a leader in design and on the equipment side, which are two very important areas.

“Also, the US has strong leadership in materials. Japan is probably the bigger leader than the US. The US also has strong marketing,” said Manocha.

“Next steps are to really inspire the world to come to India, and India will roll out the red carpet and support these programmes like subsidies that they have for the entire ecosystem, not just for wafer fab. Just having a wafer fab is not a solution. You need the entire ecosystem. Wafer fab will not survive.”

Manocha said India has to learn a lot from the countries that will collaborate with it and help them.

“There is no competition anymore on this one because the growth of India from half a trillion dollar to one trillion dollar gives opportunities for many partners to come. You cannot really grow in one country in the next seven years. It’ll require multiple countries to really participate and try to see what areas where India can play a bigger role,” he said.

“One good thing about India is they produce a lot of good green talent. The US can help with having those people trained to get them a fast start.”

According to Manocha, a couple of announcements before Prime Minister Modi’s US visit would create enough hype and the right credibility with Tier I companies in the US and Europe and countries in Asia.

“But that’s the message Modi has to really deliver that we are moving ahead, we will make sure that we serve the companies coming into India and that they grow their business, just like we’re supporting their design houses. That message has to come very clear,” he said hoping that the announcement comes before the visit.

The Indian government, he said, has to play a big role, no matter which company wins the bid, to make sure they’re successful. “Don’t leave them alone. Because they will struggle,” he noted.