Union Minister for Electronics and IT Ashwini Vaishnaw announced that the first made-in-India semiconductor chips will be released by December 2024. This declaration was made during a webinar on the semiconductor industry in India.
To promote the semiconductor industry, the government is implementing a two-pronged strategy. Firstly, they aim to attract global semiconductor companies to establish manufacturing facilities in India. Secondly, they are focused on supporting the growth of the domestic semiconductor industry.
In order to attract global semiconductor companies, the government has introduced the Production-Linked Incentive (PLI) scheme for semiconductors. Additionally, a semiconductor task force has been established.
To foster the growth of the domestic semiconductor industry, the government is providing financial assistance to startups and small businesses. Furthermore, they are establishing a semiconductor design centre in Bengaluru.
Minister Vaishnaw expressed confidence that India will emerge as a major player in the global semiconductor industry in the future. He emphasized that India has the potential to become a “global semiconductor hub”.
The production of the first made-in-India semiconductor chips signifies a significant milestone for the Indian semiconductor industry. It demonstrates the fruitful outcomes of the government’s efforts to promote the industry. The production of these chips will decrease India’s reliance on imported semiconductors and generate employment opportunities in the semiconductor sector.
