New Delhi
India is pushing for 100% domestic manufacturing in the electronics sector, including semiconductor chips and finished goods. The government-backed program has attracted investments of Rs 1.5 trillion (USD 18 billion) in the semiconductor industry.
Prime Minister Narendra Modi has set a target to grow the electronics sector to USD 500 billion from the current USD 150 billion. The government also plans to create 6 million jobs in the industry in the coming years.
India has become the eighth country to launch a dedicated semiconductor program and is one of the largest consumers of semiconductor chips globally. The government is offering 50% financial support to encourage the building of semiconductor manufacturing facilities, which is further boosting investments.
This growth is expected to benefit other industries, particularly the chemical and air gas sectors, which provide materials essential for chip production. These sectors are likely to see further growth and job creation due to the expansion of semiconductor manufacturing.
Tata Electronics is setting up India’s first semiconductor foundry in Dholera, Gujarat, with an investment of USD 11 billion. The push for domestic manufacturing in semiconductors is expected to become a key driver of economic growth across multiple sectors.
