Minister for IT and Industries Sridhar Babu has announced that there are favourable conditions in Telangana for the establishment of semiconductor manufacturing plants.
He mentioned that the market value of India’s semiconductor industry is expected to reach $100 billion by 2030.
Sridhar Babu met the representatives from NXP Semiconductors at his Minister’s Quarters on Thursday.
During the meeting, he encouraged the representatives to invest in Telangana and contribute to the state’s growth. He also invited them to take part in the prestigious AI City initiative being developed by the state government.
Sridhar Babu emphasized the importance of utilising Telangana’s highly skilled workforce and urged the company to collaborate with Skill University to cultivate the skilled talent necessary for the semiconductor sector.
The Minister also requested that the company establish a research and development unit for semiconductor manufacturing in Telangana.
Sridhar Babu further urged the company to collaborate with startups, universities, and research institutions in Hyderabad.