India’s L&T plans $300 million semiconductor push
Meanwhile, L&T Semiconductor Technologies has also announced a collaboration with IBM for R&D to develop advanced processors.
Larsen & Toubro plans to invest more than USD 300 million to create a semiconductor company, joining other big Indian business groups in an attempt to boost the chip industry in the country.
Larsen & Toubro, an Indian conglomerate with interests ranging from technology to construction, will spend the amount over three years to establish a fabless chipmaker that designs and sells chips but contracts out their production, according to a report by Bloomberg.
The company plans to sell 15 products by the end of 2024 and start sales in 2027, Sandeep Kumar, head of L&T Semiconductor Technologies, the chip arm of Larsen and Toubro, told Bloomberg.
India is emerging as one of the beneficiaries of the trade war between the US and China as chipmakers look beyond China and Taiwan.
The Indian government has created a USD 10 billion program to lure semiconductor manufacturers and their suppliers.
Meanwhile, L&T Semiconductor Technologies has announced a collaboration with IBM for R&D to develop advanced processors.
“This is one of the most exciting times in the history of technology, specifically India’s semiconductor tech ecosystem. Semiconductors are changing how all industries operate and reimagining how conventional architecture is being designed and used,” Sandeep Kumar said. “The goal of our work with IBM is to harness our cutting-edge semiconductor design technology and IBM’s advanced processors to forge next-gen technology products.”
The scope of the collaboration is expected to include processor design for edge devices and hybrid cloud systems, extending to areas such as mobility, industrial, energy, and servers, the company said in a media release.
“Semiconductors are the driving force behind the AI revolution, delivering the essential processing power that propels innovation. IBM India is excited to explore the opportunity to collaborate with L&T in advancing the semiconductor industry and accelerating innovation through our technical expertise. As a leader in semiconductor and processor design, we are committed to contributing to the growth of India’s semiconductor sector,” said Sandip Patel, managing director, IBM India and South Asia.
