Taiwan accounts for 92% of semiconductor production across the world and is a world leader when it comes to semiconductor manufacturing. India’s government has also received proposals from five companies to set up an electronic chip and display manufacturing plants with an investment of 1.53 lakh crore rupees.
Vedanta Foxconn JV, IGSS Ventures, and ISMC propose to set up electronic chip manufacturing plants with USD 13.6 billion investment and have sought the support of USD 5.6 billion from the Centre under the Rs 76,000 crore Semicon India Programme.
The minister of state for electronics and IT, Rajeev Chandrasekhar, also mentioned that there has been a tremendous development of the semiconductor ecosystem in our country in the past 8-9 months.
“State governments have shown some tremendous amount of alacrity. State governments like Gujarat, and Karnataka have shown tremendous proactive response to looking at this very new opportunity, an opportunity for growth, and job creation, investments and innovation,” Chandrasekhar said.
Currently, the aim is to have the products assembled here, but once these products start getting designed in India, they will be a tremendous value addition to our country.