Semiconductor industry can bring $4b annually
The semiconductor chain has penetrated into nearly every aspect of modern life and semiconductor has blossomed into a multitrillion-dollar industry.
According to SEMI 2020 report, the global semiconductor market for just chips is currently valued at around $425 billion per year and by some estimates, it is forecast to hit $1 trillion by 2030.
In recent years, a growing number of Asian players have made forays into the lucrative sector.
India, for example, has sharpened its chip design capabilities over the years and in December last year, it announced a $10 billion plan to attract semiconductor giants and develop its semiconductor fabrication competence.
However, Pakistan is still lagging behind in this sector. “Pakistani semiconductor industry is at a very nascent stage. We have some capabilities of [chip] design,” revealed Global Semiconductor Group Chairman Dr Naveed Sherwani in an interview with the China Economic Net (CEN).
“We have a few companies that design their own chips or work in an outsourcing fashion for design centres but overall Pakistan is starting from ground zero.”
According to Sherwani, developing semiconductors is an “existential” matter for Pakistan because the sector is an economic and sovereign lifeline.
THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET
Published in The Express Tribune, March 2nd, 2022.
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