It's crucial to recognise the critical role of intellectual property (IP) in fostering job creation, quality enhancement, competitiveness, and manufacturing prowess. India’s semiconductor industry is witnessing significant growth, and many companies have heavily invested in design centers and IP development. Semiconductor design major Synaptics lists out five compelling reasons why India should prioritise IP creation to propel its growth and global competitiveness.
Capitalising on talent pool
India’s engineering and technology talent pool is unparalleled, annually producing 15 lakh engineering graduates for a $3.7 trillion economy. With the highest number of engineers worldwide and 2,500 engineering colleges, 1,400 polytechnics, and 200 architecture schools, India prioritises technical education and innovation. This robust foundation positions India to excel in semiconductor IP development.
Focus on innovation
While semiconductor manufacturing grabs headlines, the real value lies in design and invention, the foundation of IP creation. Emphasising IP creation encourages innovation by fostering an environment where engineers understand the entire design process from concept to system implementation. This holistic approach enables the integration of innovative solutions, ultimately leading to superior products.
Strategic investment
India has the potential to excel in niche areas such as wireless technology within the semiconductor domain. The global Bluetooth 5.0 market is projected to grow by 11%, resulting in a market value of $7.0 billion by 2027. Hence, India can carve out a unique position in the global semiconductor market by focusing on IP development in wireless connectivity.
Geopolitical advantage
In today’s geopolitical climate, IP is paramount. China and Taiwan have highlighted their role in maintaining competitiveness. Prioritising IP development positions India as a critical player in the semiconductor market, safeguarding its interests.
Long-term sustainability and growth
Building a robust ecosystem for IP creation fosters long-term sustainability and growth. It ensures that India doesn’t merely participate in the semiconductor value chain but leads in innovation and technology advancement. By owning and licensing valuable IP, India can establish itself as a key player in shaping the future of semiconductor technologies.
As India charts its course in the semiconductor space, it’s imperative to prioritise IP creation as a cornerstone of its strategy. This approach aligns with India’s existing strengths, leverages its talent pool, and positions the country for sustainable growth and competitiveness in the global semiconductor landscape.
By fostering a conducive environment for IP development and innovation, India can emerge as a powerhouse in semiconductor technologies, driving technological advancement and economic prosperity.