Budget Reaction On Electronics And Semiconductor Industry - NXP SEMICONDUCTORS

“The Union Budget 2020 takes a pragmatic approach to spur sustainable growth by maintaining focus on core aspects of the economy. It’s a progressive budget that lays thrust on the sectors which will enable India’s economic growth. We are excited to know that the government aims to make India a manufacturing destination for mobile phones, electronic components and semiconductors and keenly look forward to a detailed policy for the sector as it can pave the path towards making India a major semiconductor hub in the coming times. We also welcome the budget allocation of Rs. 8000 crores for quantum computing, that can open up a lot of new opportunities and commercial applications in the future. The government’s focus on new-age technologies like Data analytics, IoT and AI and improvement of digital connectivity can help the country achieve its goal of becoming a $5 trillion economy by 2025. Extensive use of these technologies will enable stakeholders across tiers to make faster and more evidence-backed decisions leading to business growth”—Sanjay Gupta, Vice President and India Country Manager, NXP Semiconductors.

Quick facts:

·        $9.41 Billion in revenue in 2018

·        Over 60 years of combined experience and expertise

·        Approximately 30,000 employees in more than 32 countries

·        12,000 engineers in the world, 2,000+ in India

·        Noida 2^nd largest R&D location globally

·        Largest OEM customers:

o    Apple

o    Bosch

o    Continental

o    Ericsson

o    Huawei

o    Hyundai

o    Nokia

o    Panasonic

o    Samsung, among others

·        NXP is also #1 automotive suppliers in India

·        Over 80% of the cars in India use NXP chip for RFID key