Big investment in semiconductors natural due to geopolitics; innovation, design equally important
The government's roadmap for the semiconductor sector entails big investments due to geopolitical circumstances but it is giving equal importance to design and innovation, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Monday. Speaking at 35th International VLSI and Embedded Systems Conference, Chandrasekhar said India's performance during the COVID-19 pandemic has placed the country among experts in the technology space.
"Our ambitions specifically in the semiconductor space are very clear. Our ambition and our roadmap to semiconductor space involves obviously a big investment. It is natural given the geopolitics of the world in fabs (semiconductor fabrication) but as importantly as that is the ecosystem around innovation, design and systems.
"We are essentially investing government capital in creating skill...from the research side to the design engineering and testing and packaging workforce side," the minister said.
The government has received proposals from five companies for setting up electronic chip and display manufacturing plants with investment of Rs 1.53 lakh crore.
Vedanta Foxconn JV, IGSS Ventures and ISMC propose to set up electronic chip manufacturing plants with USD 13.6 billion (about Rs 1.02 lakh crore) investment. They have sought support of USD 5.6 billion (around Rs 42,000 crore) from the Centre under the Rs 76,000 crore Semicon India Programme.
Read More at