The Indian government is increasing the stake for the semiconductor manufacturing industry. To attract investors and other chipset industry stalwarts, the government has recently launched Rs 76,000 crore semiconductor scheme. Minister of State for IT, Rajeev Chandrasekhar emphasized on the government’s interest to allow companies like Intel, TSMC, Samsung and other technology companies to build infrastructure in India.
Chandrashekhar told PTI that India would like to welcome all semiconductor companies to explore exciting investment opportunities in the country.
“The companies we would love to see investment in India are Intel, TSMC, Samsung, global founders… and all other semiconductor technology majors, manufacturing, design and testing companies. It is clear that the Rs 76,000 crore initiative by PM The level of interest in global companies after the announcement is today far higher and more serious than in the past several years,” Chandrashekhar said.
The IT ministry has announced that the government will issue guidelines on modalities to apply for semiconductor incentives in early January 2022 and players will be given around 45-90 days to respond.
Given the global semiconductor shortage and India’s heavy dependence on other markets such as China, the Indian government has launched a scheme to promote semiconductor and display manufacturing in the country.
The scheme is expected to generate massive investment and result in 35,000 specialized jobs besides indirect employment for one lakh people. In the next four years, the government is expecting an investment of around Rs 1.7 lakh crore and 1.35 lakh jobs.
Could Intel be the first?
Intel Foundry Services President Randhir Thakur lauded the government’s new plan in a recent tweet. IT Minister Ashwini Vaishnav welcomed the company to India for development of manufacturing facilities. The reaction sparked speculation that Intel may become the first major chipset maker to announce its entry into India.
In response to a query from BGR.in, Intel responded by saying, “Intel India is Intel’s largest design center outside the US and we have been investing in accelerating innovation and design engineering in India over the past two decades.” However, at this time we do not have any new plans to announce.”
The government would ‘love’ to see Intel, Samsung, TSMC and other major chipset makers invest in India, this first appeared on BGR India.