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State Minister for Electronics and Information Technology Rajeev Chandrasekhar told media that by 2026 India will consume semiconductors worth about $70 to $80 billion to manufacture electronic products worth $300 billion.
Chandrasekhar said the government will achieve the goal of installing a semiconductor ecosystem in India depending on the interest it gets from around the world.
He announced the first conference on establishing the semiconductor ecosystem in the country - Semicon India 2022 - which is expected to attract Semiconductor leaders from around the world.
He said the demand for digital devices and electronic products is only increasing. The company has announced a target of $300 billion in electronic manufacturing, with $120 billion in exports. The company's consumption, based on $300 billion in electronics, will be nearly $70 to $80 billion in semiconductors.
Under the Semicon India programme, the government has received proposals from five companies to establish the electronic chip and display factories with an investment of Rs 1.53 lakh crore.
The Semicon India program included incentives amounting to Rs 76,000 crore. According to the report, companies such as Vedanta Foxconn JV, IGSS Ventures and ISMC have submitted proposals to establish electronic chip factories with an investment of $13.6 billion. They have asked the government for $5.6 billion in support under the Rs 76,000 crore program.
Furthermore, Vedanta and Elest have offered an expected $6.7 billion investment to set up display manufacturing units - used in cell phones, laptops, etc. They have asked the government for $2.7 billion in support in under the Display Factory Scheme in India.
On April 29, 2022, Prime Minister Narendra Modi will inaugurate the first-ever Semicon India 2022 conference at 11 a.m. in Bengaluru.
Chandrasekhar said Semicon India - 2022, a three-day conference, is being organized to continue Prime Minister Modi's idea of making India a leader in semiconductor design, electronics manufacturing, manufacturing and innovation.
Chandrasekhar said PM's vision is to make India a major player in the Global Semiconductor value chain.
The Semicon India 2022 conference will attract the best minds from around the world from the semiconductor industry, research and academia and will be a major step in fulfilling PM's vision to make India a global hub for the semiconductor industry and electronics manufacturing.
The Department of Electronics & Information Technology will host the Semicon India 2022 Conference from April 29 - May 01, 2022 in ITC Gardenia, Bengaluru.
According to the ministry, India Semiconductor Mission (ISM) was established as an independent business division within Digital India Corporation with administrative and financial autonomy to formulate and deliver India's long-term strategies for creating semiconductors and display manufacturing units and a semiconductor design ecosystem. to send.
