The minister said that more than a dozen semiconductor design companies have received fiscal support under the scheme and have already begun working on their respective products
Ashwini made the comments during the three-day Semicon India 2024 event being held in Greater Noida from September 11 to September 13
He said that India has set a benchmark for the world regarding fast approval and kicking off construction on new semiconductor plants in the country
With the focus on design being a critical aspect of the Semicon India programme, India aims to launch 3-4 major products in the semiconductor space in coming years, union railways and electronics and IT minister Ashwini Vaishnaw said today (September 11).
Vaishnaw made the comments during the three-day Semicon India 2024 event being held in Greater Noida from September 11 to 13.
Launched in 2021, the Semicon India scheme aims to provide subsidies to companies engaged in semiconductor fabs, display fabs, chip packaging, sensors and semiconductor design, among others.
The minister further said that more than a dozen semiconductor design companies have received fiscal support under the scheme, and have already begun working on their respective products. Some of these ecosystem partners have also attracted VC interest.
Underlining that all the commissions around semiconductor plants have happened in a record time period, he said that India has set a benchmark for the world regarding fast approval and kicking off construction on new semiconductor plants in the country.
“In a very short time frame, 5 semiconductor units have been approved. Construction is rapidly under progress in the micron unit, the Morigaon Tata unit, the construction has started and in the other three units, the construction will start soon,” Vaishnaw added.
(The story will be updated soon)
