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India offers 20-year roadmap for chip companies: IT minister

Hence, India has a plan to produce semiconductors for the world and the development of this industry will be done by taking a holistic approach. The semiconductor business is likely to contribute $1 trillion to the digital economy as India plans to hit the $5 trillion mark by 2025-26.

On Wednesday, the Government of India announced a 76,000 crore package aimed at creating a comprehensive ecosystem for semiconductor chip design, manufacturing and packaging. The government has also announced that this will create jobs for more than 1,35 lakh individuals and this will also help create an independent intellectual property for India. This policy not only encourages domestic chip production, but also covers other aspects such as design and packaging. The ongoing semiconductor shortage has crippled many industries and adversely affected the auto industry. According to India’s Investment Information and Credit Rating Authority (ICRA), fewer than half a million cars will be sold this year as semiconductor shortages cripple production.

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According to ICRA, fewer than half a million cars will be sold this year as semiconductor shortages cripple production.

Speaking to ET, Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, said, “India will lay out a 20-year roadmap where the focus will be on talent creation and nurturing. In this agreement, there is a very important agreement that is C2S (Chips To Startup) 85,000 highly talented engineers, will be created in the next few years in collaboration with 60 institutes. Dollars are available everywhere. everywhere, but it’s the brain that matters.”

Ecosystem development must be viewed holistically and industry incentives will be important. Some of these incentives have been listed and included

  1. Government support up to 50% of project costs for semiconductor wafers and displays
  2. Support up to 30% of investment, to set up composite semiconductors/silicon photonics/sensor wafers and semiconductor packaging facilities
  3. Design affiliate incentive program up to 50% valid spend
  4. The incentive for product deployment is 6% – 4% of net revenue in 5 years.
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The ongoing semiconductor shortage has crippled many industries and adversely affected the auto industry.

Hence, India has a plan to produce semiconductors for the world and the development of this industry will be done by taking a holistic approach. The semiconductor business is likely to contribute $1 trillion to the digital economy as India plans to hit the $5 trillion mark by 2025-26. The production target has been set at $9.57 crore for the next 20 years. The government also expects exports to hit 5.15 lakh crore in the next 20 years and thus this move to make Indian products available to the world is also an important factor for the growth of the country. economy.

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India has hit $75 billion when it comes to e-business and that ecosystem has boosted people’s confidence. Vaishnaw added. “We’re on track to hit $250 billion by 2025. And I’m cautious because the industry feels like it’s going to be $300 billion. Today, there’s a good ecosystem that can consume these. this chip and that gives people confidence. Over the next four or six months, you’re going to see a lot of action when it comes to approving chip manufacturers.”

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https://www.carandbike.com/news/india-providing-a-20-year-roadmap-for-chip-companies-it-minister-2656115 India offers 20-year roadmap for chip companies: IT minister

Sarah Ridley

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