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Highlighting the significant strides made in the semiconductor sectorUnion minister Rajeev Chandrasekhar has said that in the last two years, the government has received investment proposals of Rs 2.50 lakh crore from global chip makers.
“Today, investment proposals of more than Rs 2.50 lakh crore have been received by the Government of India from global semiconductor majors.India is fast becoming a semiconductor nation. Just two years ago, it was not even present in the semiconductor ecosystem of the world,” the IT minister said at ‘India Semiconductor and Packaging Ecosystem Conference’ (ISPEC) at SCL Mohali.
Semiconductor policy attracted global attention
In the last 10 years, India has moved out of the league of ‘Fragile Five’ and become the world’s fifth largest economy, the minister said, noting that the semiconductor policy announced by Prime Minister Narendra Modi in 2022 instantly attracted global attention.
“We have moved from being almost absent in the semiconductor ecosystem and merely a provider of talent to the global semiconductor majors, to now becoming a destination receiving investments and building significant capacity and capability across the spectrum, from manufacturing to design to systems,” he said added.
At the ‘Viksit Bharat Ambassador Meet’ organized in Pune this week, the IT minister said that India has “become a beacon of hope and inspiration for countries across the world in terms of our inclusive policies.”
“In the next few years, the prime minister has set a target for India to become ‘Viksit Bharat’,” he said.
Deep focus on R&D
Chandrasekhar said that the government will continue to be focused on attracting investment in semiconductor manufacturing and packaging.
“We have a very deep focus on the research and innovation components of the semiconductor industry. “This conference highlights our keen interest in creating a vibrant, robust, and competitive ecosystem centered around innovation, packaging innovation, semiconductor research, chip design, and system design innovation,” said the minister.
The development comes around the same time as the Union Cabinet approved three chip fabrication plants, two of which will be built by the Tata Group.
“Today, investment proposals of more than Rs 2.50 lakh crore have been received by the Government of India from global semiconductor majors.India is fast becoming a semiconductor nation. Just two years ago, it was not even present in the semiconductor ecosystem of the world,” the IT minister said at ‘India Semiconductor and Packaging Ecosystem Conference’ (ISPEC) at SCL Mohali.
Semiconductor policy attracted global attention
In the last 10 years, India has moved out of the league of ‘Fragile Five’ and become the world’s fifth largest economy, the minister said, noting that the semiconductor policy announced by Prime Minister Narendra Modi in 2022 instantly attracted global attention.
“We have moved from being almost absent in the semiconductor ecosystem and merely a provider of talent to the global semiconductor majors, to now becoming a destination receiving investments and building significant capacity and capability across the spectrum, from manufacturing to design to systems,” he said added.
At the ‘Viksit Bharat Ambassador Meet’ organized in Pune this week, the IT minister said that India has “become a beacon of hope and inspiration for countries across the world in terms of our inclusive policies.”
“In the next few years, the prime minister has set a target for India to become ‘Viksit Bharat’,” he said.
Deep focus on R&D
Chandrasekhar said that the government will continue to be focused on attracting investment in semiconductor manufacturing and packaging.
“We have a very deep focus on the research and innovation components of the semiconductor industry. “This conference highlights our keen interest in creating a vibrant, robust, and competitive ecosystem centered around innovation, packaging innovation, semiconductor research, chip design, and system design innovation,” said the minister.
The development comes around the same time as the Union Cabinet approved three chip fabrication plants, two of which will be built by the Tata Group.