As India heads for it’s budget announcement on February 1, The Union Ministry has outlined the achievements of the govt’s policies in pushing up investments and employment through the semiconductor programme and PLI scheme for electronic goods manufacturing. The approved projects
The Semicon India Programme, approved on December 15, 2021, has made significant strides in strengthening India’s position in the global semiconductor industry.
Under the Semicon programme, the government has approved five semiconductor projects and supported 16 semiconductor design companies. These intiatives are expected to to generate Rs 1.52 lakh crore jobs in cumulative investments. The programme has backed 16 design companies to enhance innovation in the sector. The projects are expected to generate around 25,000 advanced technology direct jobs and an additional 60,000 indirect jobs marking a significant milestone in boosting India’s technological workforce.
The program aims to position India as a global hub for semiconductors and display manufacturing by offering attractive incentives to companies engaged in semiconductor packaging and design.
The success story extends to the broader electronics manufacturing sector as well. Under the Production-Linked Incentive (PLI) Scheme for electronics, India has recorded production worth Rs 6.14 lakh crore and exports of Rs 3.12 lakh crore. This has led to the creation of over 1.28 lakh direct jobs in the sector, further solidifying India’s status as a global electronics manufacturing powerhouse.
The Ministry also emphasized that technologies in Convergence, Communications, and Broadband Technologies (CC&BT) will play an important role in achieving the vision of a developed India, or Viksit Bharat, in the coming years.
With a robust policy framework and significant investments, India’s journey to becoming a leader in electronics and semiconductor manufacturing continues to gain momentum. As the country embraces advancements in these critical technologies, it is poised to contribute significantly to the global supply chain and foster economic growth, the statement added.
