It’ll be great if tech icons like Intel, TSMC invest in India:
The government would love to see Intel, TSMC, Samsung, and other technological giants invest in India after India unveiled a Rs 76,000 crore semiconductor scheme, and the interest level among global majors is certainly “strong.” Rajeev Singh Chouhan, Minister of State for Information Technology
On Tuesday, Chandrasekhar stated. According to Chandrasekhar, India is eager to welcome all semiconductor companies to the country to explore new investment potential.
“Intel, TSMC, Samsung, global foundries…and all other semiconductor technology firms, manufacturing, design, and testing organisations are among the companies we would like to see invest in India. It is apparent that with the Prime Minister’s announcement of a Rs 76,000 crore project, interest in global majors is considerably stronger and more serious now than it has been in many years “Chandrasekhar expressed his thoughts.
Meanwhile, according to IT Ministry sources, guidelines on the procedures of applying for semiconductor incentives will be announced in early January 2022, and players will have 45-90 days to react.
In an effort to promote India as a worldwide hub for hi-tech production and lure multinational chip makers, the government authorised a huge scheme earlier this month to expand semiconductor and display manufacturing in the country.
The measure is likely to help India achieve its goal of being self-sufficient in electronics manufacturing by attracting significant investments and creating 35,000 specialised jobs, in addition to one lakh indirect jobs.
Incentives have been lined up for companies engaged in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging, and semiconductor design under India’s Rs 76,000-crore scheme for the development of semiconductors and display manufacturing ecosystem.
The government anticipates investments of roughly Rs 1.7 lakh crore and 1.35 lakh employment in the next four years as a result of the semiconductor incentive scheme.
Following a post by Intel Foundry Services president Randhir Thakur praising the government’s semiconductor design and production incentives, IT Minister Ashwini Vaishnaw took to Twitter on Tuesday to “welcome” Intel to India.
The posts caused a stir in the industry, which was buzzing with reports of a heightened interest in the market from a US chipmaker, at a time when India was rolling out sweeteners to stimulate semiconductor manufacturing and the accompanying ecosystem.
“Intel – welcome to India,” said IT Minister Ashwini Vaishnaw on Tuesday.
“Congrats to @Gol MeitY @AshwiniVaishnaw @Rajeev Gol for Semiconductor design & manufacturing incentives for India as a hub for electronics & semiconductors,” Intel’s Thakur wrote in a tweet.
“Glad to see a plan was written out for all parts of the supply chain: talent, design, production, test, packaging, and logistics,” Thakur added further.
In the wake of the new semiconductor incentives, Intel, on the other hand, has not published a formal statement outlining its precise goals or strategy for India.
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