US$ 10 billion semiconductor PLI to help India do in a decade what China did in 25-30 years: Mr. Rajeev Chandrasekhar
- IBEF
- July 28, 2023
With US$ 10 billion of incentives and assistance granted to encourage domestic chip manufacturing, India is on track to become a key player in the global semiconductor supply chain in the coming ten years, according to Union Minister of State for Electronics and Information Technology, Mr. Rajeev Chandrasekhar.
The production-linked incentive (PLI) scheme last year attracted firms like Vedanta and Taiwan’s Foxconn, who promised multi-billion-dollar investment in setting up units to manufacture chips, which are used in products ranging from mobile phones to cars.
He added that, in contrast to China's three decades of progress, India is on track for the next 10 years in the semiconductor field with US$ 10 billion (about Rs. 81,993 crore).
In the semiconductor industry, he said, the ATMP project with Micron will generate 5,000 direct jobs and 15,000 indirect roles.
According to Mr. Rajeev Chandrasekhar, the government is implementing a "comprehensive curriculum" in collaboration with the industry for the creation of 85,000 globally skilled talent in the field of VLSI (very large-scale integration), with students from post-doctorate degrees, masters, and undergraduate courses. The minister remarked, “Since 2014, we have rebuilt the electronics ecosystem, exporting over one lakh crores and crossing almost eight lakh rows of total electronic production, and becoming an increasingly big presence in global value supply chains for electronics."
Additionally, he stated that the government is "charging forward" in the semiconductor industry's design sector with 30 startups, of which five have received financial support from the government directly.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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