Minister of State for Electronics and IT Rajeev Chandrasekhar has said that India will consume semiconductors of around $70-80 billion to manufacture electronics products worth $300 billion by 2026 as envisaged in the government’s vision document.
He said the government will achieve the target of establishing a semiconductor ecosystem in the country based on the interest it is getting from around the globe.
Our own consumption, based on $300 billion in electronics (production target by 2026), will be almost $70-80 billion of semiconductors’.
The minister said the government will achieve the target of establishing a semiconductor ecosystem in the country based on the interest it is getting from around the globe.
“Demand for digital devices and electronics products is only going up. If you have seen our electronics vision document, we have announced a target of $300 billion in electronic manufacturing, with $120 billion in exports. Our own consumption, based on $300 billion electronics (production target by 2026), will be almost $70-80 billion of semiconductors,” he said.
The minister was speaking on the eve of announcing the first conference on setting up the semiconductor ecosystem in the country — Semicon India 2022, which will be organised by the government in Bengaluru from April 29 to May 1.
About Event
Ministry of Electronics and IT joint secretary Amitesh Sinha informed that the conference will be virtually inaugurated by Prime Minister Narendra Modi.
Prime Minister Narendra Modi will inaugurate the first-ever Semicon India 2022 Conference at 11 am, on 29th April 2022 in Bengaluru.
Chandrasekhar stated that Semicon India – 2022, a 3-day conference, is being organized to take forward the vision of PM Modi which is to make India a leader in electronics manufacturing, semiconductor design, manufacturing & innovation.
This conference will serve as the first roadshow in the series of a roadshow that the Ministry of Electronics & Information Technology will be organizing.
Global experts from industry and academia involved in semiconductor design and manufacturing and key representatives from Government are proposed to participate in the event. Chandrasekhar said he is expected to sign several memorandum of understanding with leading companies in the semiconductor space during the conference.
The government has received proposals from five companies for setting up the electronic chip and display manufacturing plants with an investment of ₹1.53 lakh crore under the Semicon India Programme, which entailed incentives to the tune of ₹76,000 crore.
Vedanta Foxconn JV, IGSS Ventures and ISMC have proposed to set up electronic chip manufacturing plants with $13.6 billion investment. They have sought the support of $5.6 billion from the Centre under the ₹76,000 crore Semicon India Programme.
Vedanta and Elest have proposed to set up display manufacturing units — used in mobile phones, laptops etc — with a projected investment of $6.7 billion. They have sought the support of $2.7 billion from the government under the scheme for setting up display fabs in India.
Chandrasekhar said the applications are being processed at the moment and declined to provide any estimated timeline for their approval.
