New Delhi, May 29 (SocialNews.XYZ) Union Minister Rajeev Chandrasekhar on Wednesday welcomed American major United Parcel Service (UPS) for its plans to manufacture tags used in tracking packages in the country.
UPS is a multinational shipping and supply chain management company founded in 1907.
In a post on X social media platform, Chandrasekhar said the country looks forward to welcoming UPS to start local production.
"@UPS all the best. We look forward to partnering with you to make your India semiconductor manufacturing plans a success and expand," Chandrasekhar posted.
Reports said the world's largest parcel delivery company is apparently in touch with some state governments for its local production plans, leveraging a friendly chip investment environment in the country.
The country is on the path to becoming a key player in the global semiconductor supply chain with $10 billion of incentives provided to encourage local chip manufacturing.
From a negligible presence in the global supply chain a decade back, the country now has a significant role to play in the supply chain ecosystem, creating investment and job opportunities.
The IMF estimates say that India will be the world's third-largest economy by 2027, with a GDP of $5 trillion.
Global giants like Apple, FedEx and Foxconn -- along with US-based semiconductor giant Micron -- are scaling up manufacturing in India.
Prime Minister Narendra Modi recently laid the foundation stone for chip plants worth over Rs 1.25 lakh crore.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
