Tokyo Electron Chosen for METI's Global South Future-Oriented Co-Creation Project in 2024 Japanese fiscal year Supplementary Budget

Tokyo Electron (TEL) has announced that its "Demonstration Project for Building an HR Development Ecosystem for Semiconductor Manufacturing" was selected by the Ministry of Economy, Trade and Industry (METI) for the Global South Future-Oriented Co-Creation Project in the 2024 Japanese fiscal year Supplementary Budget (Large-Scale Demonstration in Non-ASEAN Countries) in the second round of public applications.

Unlike TEL's existing overseas HR development programs that use the company's proprietary digital transformation (DX) platform, the proposed project will establish a new HR development and service hub in India. TEL will use this hub to create an HR development ecosystem in collaboration with local businesses and educational institutions. Different from a conventional short-term technology transfer, the overseas project aims to establish a self-sustaining program that will train high-tech engineers in India.

Significant investments of time and resources are required to educate and train personnel and create jobs in the semiconductor industry. These efforts are worthwhile because they enable long-term value creation and ensure a stable supply of talent in India. Although the uncertainty in the market during its formative years is a concern, the project will mitigate initial investment risks, speed up the verification process, and facilitate business expansion.

In collaboration with the Japanese and Indian governments, TEL aims to establish this project as the de facto standard for personnel development and service implementation. This will promote the development of a robust semiconductor manufacturing ecosystem in India and ensure its sustainable growth.

For reference (in Japanese):
Global South Future-Oriented Co-Creation Project in FY2024 Supplementary Budget
(Large-Scale Demonstration in Non-ASEAN Countries)