According to a statement from the IT Ministry on Thursday, Chandrasekhar has said NextGen devices & electronics products will be architected, designed and co-designed in India, through these schemes like Semicon India Future Design Program. In December 2021, the Centre had initiated the India Semiconductor Mission with an incentive outlay of Rs 76,000 crore to attract investments in the sector.
The Minister of State for the Ministry of Electronics and Information Technology (MEITY) Rajeev Chandrashekhar on Friday launched the 2nd Semicon India Future Design Roadshow in Bengaluru to encourage startups, next-generation innovators, and global & Indian Semiconductor majors to invest in the semiconductor design ecosystem of India.
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MEITY minister Chandrashekhar spoke about the three trends which makes India a powerful and significant player in the world order in semiconductors and electronics. "We are the largest recipient of foreign direct investment into innovation amongst any country in the world. New world order is taking on even faster accelerated transformation post covid," he said.
"There are three trends clearly visible," he said, "First, digitalisation is accelerating, government around the world are digitising rapidly. Secondly, Indian ecosystem is it is maturing and confident. It is at an inflection point, and third, for the world, India is becoming a trusted partner in terms of delivering talent, global products, digital products and services," he said.
"All these three things make India, Indian innovation ripe to be significant and powerful player in the emerging world order in semiconductors and electronics," the minister added.
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Prime Minister Narendra Modi addressed the event via a video message. He said that India has the world's fastest startup ecosystem and is headed for robust economic growth.
"Semi conductors are playing a critical role in the world in more ways than we can imagine. It is our collective aim to establish India as one of the key partners in global semiconductor supply chains. We want to work in each direction based on the principle of high tech, high quality and high reliability , India is headed for robust economic growth. We have world fastest growing startup ecosystem. new unicorns are coming up every few weeks. India own consumption of semi conductors is expected to cross 80 billion dollar by 2026 and 110 billion dollar by 2030. "
"We have an exceptional semi conductor design talent tool, which makes up to 20 percent of the world design engineers. Almost all of the top 25 semiconductor designing companies have the designs R&D centres in our country. We recently announced semicon India programme with an total outlay of over 10 billion dollars. This programs aims to provide financial support to companies, investing in the semi conductors, display manufacturing and dynamic ecosystem," he added.
IT minister Chandrasekhar also said that around the world, India is firmly on their radars as the growing bars and global economy in general. "In 2014, we used to import up to 80-85 percent mobile devices consumed in India. In 2022-23, we manufacture about 100 percent or more about all the mobile phones consumed in India. This year we would have exported 90,000 crores, next year the mobile device would be among the top exports from India crossing 1 lakh crore of export. Global brands being made in India are exported to world consumers and enterprises," the minister said.
According to a statement from the IT Ministry on Thursday, Chandrasekhar has said NextGen devices & electronics products will be architected, designed and co-designed in India, through these schemes like Semicon India Future Design Program.
The 1st event of this series was held at Karnavati University, Gujarat last year.
In December 2021, the Centre had initiated the India Semiconductor Mission with an incentive outlay of Rs 76,000 crore to attract investments in the sector.
“We intend to take the Semicon India program to every student, every college and make as many young Indians excited by and participate in the Semicon India journey,” the Minister said.
Also Read: Mindgrove Technologies, a semiconductor startup, raises $2.32M in seed funding led by Sequoia Capital India
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