Prime Minister Narendra Modi on Friday remarked that the upcoming semiconductor units will further boost India's "transformative journey" towards technological self-reliance.
On Thursday, the Union Cabinet sanctioned proposals to establish three semiconductor plants, including a mega fab by the Tata Group, with a combined investment of Rs 1.26 lakh crore. This move is part of India's strategy to position itself as a global powerhouse in chip manufacturing.
Speaking on the matter, Modi stated, "With the Cabinet approval of three semiconductor units under the India Semiconductor Mission, we are further strengthening our transformative journey towards technological self-reliance. This will also ensure India emerges as a global hub in semiconductor manufacturing."
The government is providing incentives of up to Rs 76,000 crore to promote domestic manufacturing of semiconductors, crucial components for electronic devices used in mobile phones, laptops, refrigerators, washing machines, and automobiles, among others.
The three units approved for support under the scheme will produce chips for various sectors, including defence, automobiles, and telecommunications. Construction is expected to commence within the next 100 days, as announced by Minister for Electronics and IT, Ashwini Vaishnaw, after the cabinet meeting.
