India will be fabricating 300 crore semiconductor chips in a year: IT Minister
The minister said that India is now in a position where design is being complemented by assembly, testing, marking and packaging (ATMP) and fabrication capabilities.
The country will not only meet its demand for semiconductors by 2029 but also start exporting them, while fabricating “300 crore semiconductor chips in a year”, Union Electronics and IT Minister Ashwini Vaishnaw has said.
The minister said that India is now in a position where design is being complemented by assembly, testing, marking and packaging (ATMP) and fabrication capabilities.
"This will bring the entire semiconductor chain to India,” he added.
“A significant part of our (semiconductor) requirements will be made in India. We will also become major exporters, just like we have become major exporters of mobile phones,” said the minister.
About $26 billion worth investment proposals are currently with the government for semiconductor manufacturing in the country, according to industry sources.
More than $18 billion worth proposals have already been cleared by the government, which includes three semiconductor fabrication (fab) manufacturing projects worth Rs 1.3 lakh crore which were announced this week.
The first India-made chip from the Rs 22,500 crore Micron semiconductor plant in Gujarat is set to arrive in December this year.
Vaishnaw on Friday said that at least eight large investment firms are looking to explore opportunities in the telecom sector amid rapid digital transformation and new opportunities.
More and more investors are looking at the country as an emerging market for investments.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
12:20 PM IST