Page 29 - NIS English, December 16-31,2022
P. 29
2022: Year of Willpower Cover Story
THE STEP TOWARDS For this, Prime Minister Narendra Modi has
aimed to establish India as a major player
AATMANIRBHAR in the global semiconductors supply chain.
Meanwhile, India has announced the Semi-
Con India event with an outlay of $10 billion.
BHARAT IN THE FIELD The objective of the program is to provide
financial support to companies investing in
OF SEMICONDUCTOR the semiconductor, display manufacturing,
and design ecosystem.
The impact of these efforts to make the
semiconductor ecosystem flourish is that
the Gujarat government has signed an
agreement with a private company to set up
the first semiconductor plant in Gujarat. The
semiconductor market in India is around $27
billion, which is expected to reach $64 billion
by 2026.
Prime Minister Narendra Modi explains 6
reasons for increasing India's investment
in semiconductor technology
Creating the digital infrastructure to
connect India's 130 Crore population,
one of the largest consumers of data per
capita
Paving the way for India to lead the next
technology revolution. Connecting 6 lakh
villages with broadband, creating a wave
of innovation in 5G, IoT, and AI.
World's fastest growing startup
ecosystem. India's own consumption of
semiconductors is expected to cross $80
billion by 2026 and $110 billion by 2030.
Doing business in India made easy as
over 25 thousand compliances have
been eliminated. Emphasis on automatic
Semi-Conductor manufacturing is renewal of license. India has one of the
one such sector in which very few most favourable taxation systems in the
countries have expertise. India cannot world.
make a rapid stride in this sector due India accounts for 20% of the world's total
semiconductor design engineers.
to inadequate policy measures. But Several efforts taken towards
the semiconductor chip is an essential transforming the Indian manufacturing
component in every electronic product sector, and India boosting its economy
including mobile. through robust measures.
- Narendra Modi, Prime Minister
New India Samachar December 16-31, 2022 27
