According to Rajeev Chandrasekhar, minister of state for electronics and information technology, the government has set aside Rs 1,000 crore to fund companies in semiconductor design. According to him, the Center is also striving to create an entire ecosystem for the manufacturing, packaging, and distribution of semiconductors, which will include the new fund.
Word from Ranjeev Chandrasekhar
Rajeev Chandrasekhar said that they obviously want to be able to claim that next-generation platforms and products, such as India Stack, are being architected and created in India. A fund of Rs 1,000 crore has been set up, and the government will utilize it to invest directly in semiconductor design businesses, with matching funds from the states.
In the following one to two years, Rajeev Chandrasekhar continued that the government wants to have at least 50 to 100 semiconductor design businesses in various use cases, which will be incorporated into goods and the overall digital ecosystem.
India Semiconductor Mission
On Thursday, Rajeev Chandrasekhar spoke at the Bengaluru Tech Summit 2022. Applications for chip production in the nation are now being examined by the Center. The government is expected to soon announce the companies that are eligible for the incentives offered by the India Semiconductor Mission.
According to Chandrasekhar, the government is also collaborating with institutions like IIT-Madras on a project to design the following generation of microprocessors. $30 billion has been set aside by the government for semiconductors and electronics.
According to him, it has committed $10 billion to the manufacturing and design of semiconductors and $20 billion to the manufacturing and design of electronics. The development of production capacity, packaging and verification capabilities, design, research, and expertise will be prioritized in the field of semiconductors.
Chandrasekhar added that additionally, processing, manufacturing, and tooling for the semiconductor industry will receive increased attention. Another research center will be established in Bengaluru in addition to revamping the Semiconductor Lab in Mohali for up to Rs 10,000 crore with a commercial partner.