In the next 30-60 days, the government might approve semiconductor unit proposals, according to MoS IT

In the next 30-60 days, the government might approve semiconductor unit proposals, according to MoS  ...

In the next 30-60 days, the government is likely to begin establishing electronic chip and display manufacturing facilities in the United States, according to the Minister of State for Electronics and IT, Rajeev Chandrasekhar.

Chandrasekhar spoke at the IESA Vision Summit and said there have been tremendous improvements in the country''s semiconductor industry in the last 8-9 months.

Five companies have received recommendations for the establishment of electronic chip and display manufacturing facilities with a budget of 1.53 lakh.

According to the Rs. 76,000 crore Semicon India Program, Vedanta Foxconn JV, IGSS Ventures, and ISMC have proposed to build electronic chip manufacturing facilities, which total $13.6 billion (nearly Rs. 1,11,800) investment.

"Over the next couple of months, I expect during the next 30 to 60 days... The Government of India and India Semiconductor Mission will be rolling out those proposals that have been reviewed and that have exceeded the investment," Chandrasekhar said in his virtual speech during the summit.

He said that the industry has a lot of interest and that there are several suggestions, from investment in wafer manufacturing factories to silicon compounds, to packaging and testing.

"State governments have shown some tremendous amount of alacrity," says Chandrasekhar. State governments have shown tremendous proactive response to viewing this very new opportunity, an opportunity for growth, and employment creation, investments, and innovation.

Vedanta Foxconn JV has announced plans to establish an electronic chip manufacturing facility in Gujarat. He said there is significant investment in the semiconductor industry, and the government is looking into this sector as a long game.

"We will invest $15 billion (nearly Rs. 1,23,300 crore) of goods by 2025, with one point of our target for electronics, which includes a total of $300 billion (nearly Rs. 24,66,800 crore) of manufacturing, and a total of $120 billion (nearly Rs. 9,86,700 crore)," said Chandrasekhar.

According to a research, India''s Electronics and Semiconductor Association (IESA) chairman Vivek Tyagi predicted that India would consume roughly $27 billion (nearly Rs. 2,22,000) in semiconductors in 2022.

He said that the government''s incentives have given the electronic industry an edge, but that most of the products are being shipped in India.

"Every time the products become available here, there will be a different level of value addition," Tyagi said.

He said that before the start of semiconductor manufacturing, there is a strong possibility of assembly and testing of electronic chips in India.