Semiconductor investment in India: Union Cabinet on December 15, 2021, gave its approval to a budget of Rs. 76,000 crores for the designing and manufacturing of semiconductor chips in the country. The amount has been sanctioned for an ambitious project named ‘Programme for Development of Semiconductors and Display Manufacturing Ecosystem’ and it will be spent over a span of six years.
Elaborating more on the semiconductor scheme in India, Union Minister Ashwini Vaishnaw said that a historic decision has been taken in the field of Electronics in which the development of a complete ecosystem will take place in India. The country reached USD 75 billion in electronic manufacturing in 7 years and in the next 6 years, it will reach USD 300 billion.
An ambitious project to establish a complete ecosystem of semiconductors and display manufacturing has been sanctioned. Rs 76,000 crores will be spent on this project in 6 years: Union Minister Anurag Thakur pic.twitter.com/AMzjJ4PO63
— ANI (@ANI) December 15, 2021
Semiconductor scheme in India: Significance
The Government’s move to approve the budget for the manufacturing and designing of semiconductors in India will help the country in being self-reliant in electronics manufacturing.
It will also result in massive Semiconductor investment in India and will result in 35,000 specialized jobs apart from the indirect employment for one lakh people.
Semiconductor scheme in India: Details
As Rs. 76,000 crores have been approved for the development of the semiconductors and display manufacturing ecosystem, the incentives have already been lined up for the firms that are engaged in silicon semiconductor fabs, display fabs, silicon photonics, compound semiconductors, semiconductor packaging, and design, sensors fabs.
Also, with the semiconductor incentive scheme already in place, the Government of India expects investments in semiconductors of around Rs. 1.7 lakh crores and 1.3 lakh jobs in the next 4 years.
Under Government’s semiconductor scheme, at least two greenfield semiconductor fabs and two display fabs in India, while at least 15 units of semiconductor packaging are also expected to be established.
What is semiconductor?
A semiconductor material has an electrical conductivity falling between that of a conductor such as an insulator, glass, and metallic copper.
What are semiconductors used in?
They are employed in the manufacture of various kinds of electronic devices, including transistors, diodes, and integrated circuits. Such devices have also found wide applications because of their reliability, compactness, low cost, and power efficiency.
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