Speaking at the International VLSI and Embedded Systems Conference, Chandrashekhar said, “Our ambition for the semiconductor segment is very clear. It definitely requires huge investments. There is investment from the government in creating skills.” The government has received proposals from five companies for setting up electronics chip and display manufacturing plants. In this, an investment of about Rs 1.53 lakh crore will be made. Vedanta and Foxconn’s joint venture, IGSS Ventures and ISMC has informed about setting up of an electronic chip manufacturing plant with an investment of $13.6 billion (about Rs 1.02 lakh crore). For this, help of $ 5.6 billion (about Rs 42,000 crore) has been sought under the government’s incentive scheme. The government will provide financial assistance up to 40 percent for chips of 28-45 nanometers and up to 30 percent for chips up to 45-65 nanometers.
Vedanta and Elest have proposed an investment of $6.7 billion in setting up display manufacturing units used in mobile phones and laptops. For this, assistance of $ 2.7 billion has been sought under the incentive scheme. The central government is also giving incentives on chip design and product design. This has increased the interest of foreign companies to set up units in this segment in India.
Chandrashekhar said, “Policies and leadership are driving the technology sector in the country. We have a long history of strong performance in technology services and outsourcing. It is clear that we have Electronics System Design and Manufacturing (ESDM).” There is no dearth of opportunities in the embedded design and semiconductor segments.” He said that the number of startups in the country has been the fastest in the formation of unicorns as compared to any other economy in the world.
(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)<!–
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