: India on way to become semiconductor manufacturing hub: Union Minister Ashwini Vaishnaw #finance #StockMarketNEWS Indian on way to become semiconductor manufacturing hub: Union Minister Ashwini Vaishnaw

India on way to become semiconductor manufacturing hub: Union Minister Ashwini Vaishnaw #finance #StockMarketNEWS
Indian on way to become semiconductor manufacturing hub: Union Minister Ashwini Vaishnaw New Delhi, Aug 27 (KNN) The semiconductor scheme announced in December 2021 has received excellent progress,this indicates that we are moving in the right direction to become a semiconductor manufacturing hub, said IT and Electronics minister Ashwini Vaishnaw.

Speaking at the Business Todays India@100 conclave, Vaishnaw, said that “Today in India we have close to 55,000 design semiconductor engineers working for various companies.”

“As part of our semiconductor program, we have brought out a design-led scheme where the engineers who want to try out their luck in designing semiconductor chips, they can come out and can use common facilities which are getting developed at C-DAC

unit in Pune and start up their venture,” he said.

The government of India in December 2021 approved a semiconductor incentive scheme worth Rs 76,000 crores to make India a semiconductor nation.

It has received proposals for three silicon fab and two display fab proposals till now, but has not yet approved any.

Further elaborating on this, the minister pointed out that typically it takes 14 to 18 months, to study the proposal in depth and then take a call on that.

“Today we are in a position where in the coming two or three months, we should be having the first groundbreaking ceremony for Indian semiconductor manufacturing units,”he added.

As electronics manufacturing grows, the demand for chips is going to increase, and if that demand can be met out of India, it can bring an impactful change in the country. (KNN Bureau)