“As Government, we promised you and this 14-16 months period begins on March 1 this year. You will see some good news in the coming weeks.”
In a further effort to strengthen the growth and revenue of chip manufacturing in the nation, Ashwini Vaishnaw, Union Minister for Electronics and Information Technology, stated that the government is going to unleash a very unique program soon that will make the journey of semiconductor in the country very solid in the coming ten years. In December 2021, the government launched the Semicon India Program, which is worth Rs 76,000 crore. The programme is supporting massively the development of display and semiconductor manufacturing in India.
In an interaction with the media, the minister said “When PM approved the Semicon India program on Jan 1, 2022, we promised that within the next 14-16 months, we'll work hard, learn from the world's experience and come out with a program which will take the country on a good semiconductor journey for next 10 year. As Government, we promised you and this 14-16 months period begins on March 1 this year. You will see some good news in the coming weeks."
Moreover, the minister also added that various global firms have deeply shown interest to invest in India and many of them have already done the same. This is very imperative to meet the nation’s strategic requirements. A year back, when the PLI scheme for semiconductor was announced, the minister said, "Semiconductor manufacturing, which is crucial to meet the strategic needs of the country, has attracted interest from global companies as a good number of applications have been received under the programme."
As per a report of the ANI, The minister had apprised the parliamentary consultative committee in 2023 that several state governments like Gujarat, Madhya Pradesh, Karnataka, Odisha, Telangana, Andhra Pradesh and Tamil Nadu are in talks with the companies to set up semiconductor manufacturing plants/fab complexes. The Semicon India Programme aims to provide attractive incentive support to companies/consortia that are engaged in Silicon Semiconductor Fabs, Display Fabs, Compound Semiconductors / Silicon Photonics / Sensors (including MEMS) Fabs, Semiconductor Packaging (ATMP / OSAT) and Semiconductor Design.
An exclusive CircuitDigest interaction stated that the global revenue of semiconductors will see a growth of 1.1% in 2022. However, this is an increase in the number compared to last year which was around $600 bn. But in all there is a decline owing to the uncertainty of the global economy and surge in the demand of consumer electronics. Combining the growth of global 20-25 semiconductor businesses the market witnessed to be climbing with approx. rise by 3%. In addition, major vendors contributed the majority of the market revenue about 70%.
