Minister of State for Electronics and IT Rajiv Chandrashekhar on Wednesday said the government may start clearing proposals for setting up electronic chip and display manufacturing plants in the country in the next 30-60 days.
Speaking at the IESA Vision Summit, Chandrashekhar said that tremendous progress has been made in the development of semiconductor ecosystem in the country in the last 8-9 months.
The government has received proposals from five companies to set up electronic chip and display manufacturing plants. 1.53 lakh crore.
Vedanta foxconn The JV, IGSS Ventures, ISMC, has proposed to set up an electronic chip manufacturing plant with an investment of $13.6 billion (approximately Rs 1,11,800) and has sought support of $5.6 billion (approximately Rs 46,000 crore) from the Centre. 76,000 crore Semicon India program.
In his virtual address, Chandrashekhar said, “In the next few months, I think in the next 30 to 60 days … the Government of India and the India Semiconductor Mission will move forward proposals that have been examined and which have passed the investment.” Is.” on the summit.
He said there is a lot of interest in the industry and there are many proposals from investment in wafer manufacturing plants to silicon compounds to packaging and testing.
Chandrashekhar said, “State governments have shown some tremendous urgency. State governments like Gujarat, Karnataka have shown tremendous proactive response to see this new opportunity, growth opportunities, and job creation, investment and innovation.”
Vedanta Foxconn JV has announced plans to set up an electronic chip manufacturing unit in Gujarat. He said that there is a need for significant investment in the semiconductor sector and the government is looking at the sector as a long game.
“This year alone, we will exceed $15 billion (approximately Rs. 1,23,300 crore) of exports, where at one point our exports were zero in 2014. Our target for electronics as an overall sector is $300 billion (approximately 24 Rs.
Quoting a study, India Electronics and Semiconductor Association (IESA) President Vivek Tyagi said that India will consume semiconductors worth around $27 billion (about Rs 2,22,000) in 2022.
He said that the government’s incentives have given a boost to the electronics sector but most of the products are being assembled in India.
“Once the products are designed here, there will be a different level of value addition in the country,” Tyagi said.
There is a strong case for assembling and testing electronic chips in India before the start of semiconductor manufacturing, he said.