The Union Minister of State for Electronics & Information Technology and Skill Development & Entrepreneurship, Shri Rajeev Chandrasekhar will flag off the maiden SemiconIndia FutureDesign Roadshow at Karnavati University, Gandhinagar, Gujarat tomorrow.
The SemiconIndia FutureDesign Roadshows under the Design Linked Incentive scheme of India Semiconductor Mission aims to catalyse the Startups in the field of Semiconductor Design and Innovation through incentives to the tune of Rs 100 crore per device at the Design stage.
The Government of India, in December 2021, had launched the India Semiconductor Mission with an incentive outlay of Rs 76,000 crore to attract investments in the strategic Semiconductor sector. The Government of Gujarat followed it up by announcing its Semiconductor Policy 2022-27 and its move to set up a Semicon city in Dholera. Recently, Vedanta and Foxconn have announced setting up of a Greenfield Semiconductor Fab unit at Dholera in Gujarat.
The Minister in his recent trip to Rajkot, Gujarat had stated that “Dholera would emerge as Asia’s biggest electronics & semiconductor innovation hub”. The SemiconIndia FutureDesign will inspire the next gen Startups in Semiconductor Design & also help create a robust semiconductor ecosystem in the state.
“PM Shri Narendra Modi aims to establish India as the Global Hub for Semiconductor Design and Innovation. India is a land of opportunities in Semiconductor sector and we are building the Semiconductor ecosystem for India’s Techade”, said Shri Rajeev Chandrasekhar in a statement.
The Electronics sector in India has witnessed unprecedented growth since 2014. The sector has grown from around Rs 1,10,000 crore (in 2014) to around Rs 6,00,000 crore this year. In 2014, there were just two Mobile manufacturing units which have increased significantly to over 200 now. The mobile exports in India in 2015-16 were near zero. Propelled by the PMP and PLI Schemes, they reached Rs.27,000 cr in 2019-20, and within the first year of PLI Scheme, saw a 66% increase to Rs.45,000 cr.
Shri Narendra Modi Government now seeks to Broaden and Deepen the electronics manufacturing sector. Semiconductors, being the building blocks of Tech, are critical for India’s expanding Digital Economy which is expected to breach the $1Trillion mark by 2025/26.