The Indian government has notified the Semicon 2.0 scheme with an outlay of Rs 1.27 lakh crore to boost the chip manufacturing ecosystem in the country. With this, India could account for nearly 10 percent of the global semiconductor industry market in the coming years and is expected to play a much bigger role in the global semiconductor value chain.
Union Minister for Electronics and Information Technology Ashwini Vaishnaw said that the Government's focus is on firmly embedding the country in the global semiconductor value chain, from wafer fabrication to chip production.
After releasing the notifications for all six pillars of the Semicon India Programme 2.0., Vaishnaw noted that there is confidence among global semiconductor industry stakeholders that India is the right destination for major investments in the coming decades.
The Minister underscored the importance of the speed at which projects have moved from approval to ground-breaking and then to commercial production in Semicon 1.0, has been particularly noted by the industry.
Further, Vaishnaw said India’s talent pool, policy certainty and ease of working have contributed to the industry’s growing interest in making India a base for semiconductor manufacturing and design. He added the country’s objective is to become an indispensable part of the global semiconductor supply chain, with global industries increasingly depending on India for production and design.
Vaishnaw emphasized that developing the entire ecosystem in the country will be foundational for sustained growth of India’s semiconductor industry over the next 50 years.
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