‘Semi-conductor PLI to fast track progress’
“We are on track to do in the next 10 years with these $10 billion, what countries like China took 25-30 years and could not succeed.”
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NEW DELHI: India is on track to becoming a key player in the global semi-conductor supply chain in the next decade with $10 billion of incentives and assistance provided to encourage local chip manufacturing, Union minister Rajeev Chandrasekhar said on Thursday.
The production-linked incentive 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.
Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said there is “not one person in the semiconductor global ecosystem” that does not see India as “a very credible, viable and fast charging destination for semi-conductor investments and innovation”.
He also said India is on track for the next 10 years in the semiconductor space with $ 10 billion (about Rs 81,993 crore), compared to China’s three decades of progress.
“We are on track to do in the next 10 years with these $10 billion, what countries like China took 25-30 years and could not succeed.”
He mentioned the ATMP project with Micron will create 5,000 jobs and 15,000 indirect roles in the semiconductor industry. “Micron is a global leader in memory (solutions),” he said.
