India to consume $80 bn semiconductors to produce $300 bn electronic
The Minister of State for Electronics and Information Technology Rajeev Chandrasekhar told the media that India will consume semiconductors of about $70 to $80 billion to manufacture electronics products worth $300 billion by 2026. Chandrasekhar said that the government will achieve the target of installing a semiconductor ecosystem in India depending upon the interest it is getting from around the world. He announced the first conference on setting up the semiconductor ecosystem in the country -- Semicon India 2022 - that is expected to attract Semiconductor leaders from across the globe. He said that the demand for digital devices and electronics products is only increasing. The company has announced a target of $300 billion in electronic manufacturing, with $120 billion in exports. The company's consumption, based on $300 billion in electronics, will be almost $70 to $80 billion of semiconductors. Under the Semicon India Programme, the government has received proposals from five companies to establish the electronic chip and display manufacturing plants with an investment of Rs 1.53 lakh crore. The Semicon India programme entailed incentives to the tune of Rs 76,000 crore. As per the report, firms like Vedanta Foxconn JV, IGSS Ventures, and ISMC have submitted proposals to establish electronic chip manufacturing plants with a $13.6 billion investment. They have sought support of $5.6 billion from the government under the Rs 76,000 crore programme. Further, Vedanta and Elest have offered a projected investment of $6.7 billion to establish display manufacturing units -- used in mobile phones, laptops, etc. They have sought the support of $2.7 billion from the government under the scheme for establishing display fabs in India. On 29th April 2022, Prime Minister Narendra Modi will inaugurate the first-ever Semicon India 2022 Conference at 11 am in Bengaluru. Chandrasekhar said that Semicon India – 2022, a three-day conference, is being organised to take forward the idea of PM Modi which is to make India a leader in semiconductor design, electronics manufacturing, manufacturing, and innovation. Chandrasekhar said that PM’s vision is to make India an important player in the Global Semiconductor value chain. The Semicon India 2022 conference will attract the best minds from across the globe from the semiconductor industry, research, and academia and will act as a big step in fulfilling PM’s vision of making India a global hub for the semiconductor industry and electronics manufacturing. The Ministry of Electronics & Information Technology will organise the Semicon India 2022 conference from April 29 – 01 May 2022 at ITC Gardenia, Bengaluru. As per the ministry, India Semiconductor Mission (ISM) has been established as an Independent Business Division within Digital India Corporation having administrative and financial autonomy to formulate and drive India’s long-term strategies for creating semiconductors and display manufacturing units and semiconductor design ecosystem. Image Source
Also read: Vedanta to invest $15 bn in semiconductor, display unit ventures
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