India’s Semiconductor production would craft 35,000 specialized employment and one lakh direct job opportunity in the next couple of years
After an incentive of Rs 76,000 Crore was unleashed by the government to boost the country’s display and semiconductor manufacturing cluster, experts opine that this imperative decision will benefit the country strategically, most importantly during a time when the entire globe is facing the trouble in slump of production of chipsets. For the past several years India has been trying hard to enhance its semiconductor manufacturing industry due to which for the first time such a scheme has been unveiled to boost the production of chipsets, which is now extremely imperative for modern tech products such as medical devices, cars, and electronic gadgets.
On the other hand, the government also feels that their center of attraction on semiconductor production in the country could go a very long way in magnetizing investments from top global firms, crafting millions of employment opportunities, and also helping India to become a global center for electronic products. Apart from helping India to decrease its reliance on import, semiconductor production would craft 35,000 specialized employment and one lakh direct job opportunities. Moreover, an investment of Rs 1.7 Crore is speculated to be generated soon.
The manufacturing is also strategically important because minister Ashwini Vaishnaw, while announcing the PLI stated that the entire semiconductor ecosystem will be uplifted starting from testing, design, packaging, and fabrication. The other benefits include huge production volume and low cost of workforce, which in the end will create profit from exports to other countries. Questions have been raised by various stakeholders whether any state in India would be permitted to extend additional incentives for this purpose.
Since 2006, India has been trying hard to commence a semiconductor manufacturing fab, but it’s never done owing to massive investment and high risks associated. The past history says that fabs have gained huge traction in improving economies in the country where they are operational. In India, a strategic vision is required to be constructed on which a broader semiconductor ecosystem can be crafted
