India can become biggest chip producer in next 5 yrs $10 billion chip manufacturing plan
GS-III | S&TIndia can become
biggest chip producer in next 5 yrs $10 billion chip manufacturing plan
· According to Minister
of Electronics and IT Ashwini Vaishnaw, India
will become the biggest semiconductor manufacturing destination in the world in
the next five years with the Centre ensuring that the right ecosystem is
built, with production in India being the cheapest globally.
· In December 2021, the
Centre had announced a $10 billion
semiconductor manufacturing plan with a fabrication plant expected to get
approval soon.
· The Centre will
reopen the window for applying to its Rs 76,000 crore semiconductor
manufacturing plan.The new window, set to open on June 1, will remain until
December 2024.
· In response to the
government’s incentive scheme, a joint venture comprising Vedanta and Taiwanese electronics contract manufacturer Foxconn
signed a Memorandum of Understanding with the Gujarat government in September
to set up a semiconductor and display manufacturing unit, but the venture is
reported to be struggling to raise funds for the project. ISMC, a joint venture
between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor,
has proposed a 65-nanometer analog semiconductor fabrication unit.
