Rajeev Chandrasekhar, the minister of state for electronics and information technology, announced that the government had set aside Rs 1,000 crore to support entrepreneurs in semiconductor design. According to him, the Center is also striving to create an entire ecosystem for the manufacturing, packaging, and distribution of semiconductors, which will include the new fund.
Additional Information on the Allocation of Rs 1,000 Crore
The government desires to be able to claim that the future generation of hardware and software, including platforms like India Stack, is being developed and created in India. According to Chandrasekhar, they have set up a fund of Rs 1,000 crore that would be utilised specifically by the government to invest in companies that produce semiconductors, along with matching funds from the states. The government’s objective, he continued, was to have at least 50 to 100 semiconductor design businesses in various use cases within the following two years, which would be merged into goods and the larger digital ecosystem. According to an ET report, applications for chip production in the nation are now being examined by the Center. The government is likely to reveal soon the companies that are eligible for the incentives offered under the India Semiconductor Mission. According to Chandrasekhar, the government is also collaborating with institutions like IIT-Madras on a project to design the following generation of microprocessors. For semiconductors and electronics, the government has committed $30 billion. According to him, it has committed to investing $20 billion in the production and design of electronics and $10 billion in the manufacturing and design of semiconductors. The development of production capacity, packaging and verification capacities and capabilities, design, research, and talent will be the main areas of attention in the semiconductor industry. Also receiving more attention will be R&D in semiconductor processing, manufacturing, and tooling. In addition to modernising the Semiconductor Lab in Mohali for up to Rs 10,000 crore with a commercial partner, Chandrasekhar said that a new research facility would be built in Bengaluru.
