India holds colossal potential in the semiconductor industry and the government has a firm commitment to meet the same
Ahead of the second edition of Semicon India 2023 event in Gujarat, Minister of state for skill development & entrepreneurship and electronics & IT Rajeev Chandrasekhar told the media that India missed the semiconductor bus due to lack of vision, clear strategy, and clarity by the previous governments. Speaking to the media prior to the conference, the minister added that the current government has made a lot of progress in this sector.
In fact, the current government has also helped in uplifting the growth of the nation’s electronics industry and also helped the country to become one of the fastest growing electronics manufacturing countries internationally. He also stressed the fact that the country holds colossal potential in the semiconductor industry and the government has a firm commitment to meet the same.
The minister said, “Our semiconductor ecosystem journey began 19 months ago. Unfortunately, there were major inadequacies in political vision, strategic planning, and an array of missed opportunities that have hindered our progress in the semiconductor domain for several decades. Nonetheless, we are now geared up to achieve, in the coming Techade, what some of our neighboring nations failed to attain even after investing 30 years and a staggering USD 200 billion."
Now, as the demand for digital products, electronics, and services are increasing each year, the minister explained the imperative role played by chips in this technology-driven society. In the coming few years, India will definitely grow as an international manufacturing hub in terms of electronics and semiconductors, Chandrashekhar further opined. The government is also crafting a vast curriculum to boost more talent and help startups to grow in the semiconductor industry.
“Our focus remains steadfast on fostering talent in the semiconductor sector through collaboration with the industry. With the SemiconIndia futureDESIGN initiative, we have witnessed the establishment of over 30 semiconductor design startups in India, including ventures initiated by leaders from Silicon Valley. Additionally, five startups have already received government financial support, while 25 more proposals for next-gen products and devices are currently under evaluation," the minister added.