The Indian government's semiconductor and display manufacturing initiative aims to establish a sustainable ecosystem within the country. This initiative is designed to position India as a global hub for electronics manufacturing, with semiconductors and displays being foundational components. The program's objectives include enhancing technological leadership, achieving economic self-reliance, and integrating India into the global value chain.
The initiative was officially approved by the Union Cabinet on 15th December 2021.
The Indian government has allocated a substantial sum of Rs. 2,30,000 crore (approximately USD 30 billion) to support the creation of the semiconductor and display manufacturing ecosystem.
This initiative offers attractive incentive support to various companies operating within the semiconductor ecosystem. This includes sectors such as:
Additionally, it encourages semiconductor designers to launch their startups by covering half of the costs incurred, thereby fostering innovation and entrepreneurship.
Establishing a robust semiconductor and display manufacturing ecosystem in India carries significant strategic importance for national security. It ensures the availability of trusted sources for semiconductors and displays, which is critical in today's technology-dependent world. This initiative is expected to create high-skilled job opportunities, leveraging India's demographic advantages. Furthermore, it will positively impact various economic sectors by enhancing India's role in the global value chain and solidifying its technological leadership.
The initiative is set to reshape India's position in global electronics manufacturing by providing competitive incentives to semiconductor and display manufacturing and design companies. This effort aims to usher in a new era for electronics manufacturing in the country, making India a pivotal player in the global electronics market and contributing to economic growth and technological advancement.
The anticipated outcomes of this program include:
Moreover, the initiative aims to enhance India's participation in the global electronics and semiconductor market, ultimately contributing to overall economic growth and development. This initiative marks a significant milestone in India’s ambition to become a key player in the global semiconductor and display manufacturing industry, a crucial area for the nation's economic and strategic growth in the age of digital transformation under Industry 4.0.
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