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India will become a major player in the global semiconductor market over the next 10 years, home minister Amit Shah said on Tuesday. “I can tell you with confidence that in the coming 10 years, India will be a very big player in the field of semiconductors,” Shah told a press conference held to mark the completion of 100 days of the third term of the Narendra Modi-led government. He pointed to the semiconductor chip manufacturing plant coming up in Sanand, Gujarat .
ETtech US chip maker Micron is building a chip assembling and testing facility in Sanand at an investment of $2.7 billion, making it one of the first major projects to take off under the Rs 76,000-crore India Semiconductor Mission . The facility is expected to roll out the first India-made chips by the year-end.
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C.P. Gupta, Professor: Department of Finance and Business Economics, University of Delhi View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Earlier this month, the cabinet also approved Kaynes Semiconductor’s proposal to set up a Rs 3,300-crore unit in Sanand.
Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Shah said several countries are also looking to understand India’s Digital India initiatives and take similar steps. He also highlighted the abolition of the 31% angel tax in the 2024 budget, a move aimed at supporting startups and encouraging innovation. Shah added that India celebrated ‘National Space Day’ for the first time on August 23 as a way of increasing the interest of the youth in this area.
“Many initiatives have been taken to encourage and hand-hold space startups , such as the Rs 1,000-crore venture capital fund,” he said, referring to the budget announcement seeking to foster innovation and advance the space economy. He said that in the next five years, 5,000 people would be trained as “cyber commandos” and a registry of cyber criminals would be prepared..
