Indian government unveils new policies to address chip shortage

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The Ministry of Electronics and Information Technology has approved the Semiconductor Policy. It is reported from the sources that the government has given permission to give Rs 76 thousand crore. Companies like BHEL, Moschiptech and Bosch will benefit greatly from this approval. The Tata group had also expressed its interest in setting up a semiconductor plant. Recently, semiconductor shortage is being observed all over the world.

The government has said that under this scheme display and semiconductor fabricators will provide financial assistance of up to 50 per cent of the project cost. If India becomes a global electronics production hub, many electronic devices, including smartphones, will become cheaper. In such a situation, this step of the government will prove to be very beneficial for Indians and India’s dependence on countries will also be reduced.

Many foreign companies want to set up their chip production plants in India, and they are also in constant touch with the Indian government. In the times to come, India may see necessary production plants of foreign companies, which will manufacture semiconductor chips and make displays.

Several companies have shown interest in setting up semiconductor companies in India, including Israel’s Tower Semiconductor, Apple’s contract maker Foxconn and Singapore-based companies. Apart from this, Vedanta Group has also shown its interest in the semiconductor unit.

As far as India is concerned, the country imports all types of semiconductors worth around $24 billion, which is expected to increase to $100 billion by 2025. Now, as the country and the world grapple with the shortage of semiconductors, the government is trying again. To make India self-reliant regarding semiconductors.

The job of a semiconductor is to power all electronic devices. Through these, you can do fast computing, operation control, data processing, storage, input-output management, sensing and wireless connectivity. That is, without it artificial intelligence, quantum computing, advanced wireless networks, blockchain applications, robots, drones, games, smartwatches and even 5G technology cannot be imagined.

First appeared on BGR India after the Indian government unveiled new policies to address the chip shortage.

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