PM Inaugurates 3 Day SemiconIndia Conference 2022. Key Takeaways
PM Narendra Modi inaugurated a three-day SemiconIndia Conference 2022-themed ‘Catalyzing India’s Semiconductor Ecosystem’ with the objective of making India a global hub for Semiconductor Design and Manufacturing. Here Are Key Takeaways
“It is our collective aim to establish India as one of the key partners in global semiconductor supply chains. We have an exceptional semiconductor design talent pool which makes up to 20% of the world's semiconductor design engineers,” Prime Minister at conclave said.
“We are using digital technology to transform lives in all sectors of governance from health and welfare to inclusion and empowerment. India is paving the way to lead the next technology revolution and is headed for robust economic growth with the world's fastest-growing Startup Ecosystem,” PM Modi addressing the conference added.
The Prime Minister informed that over the next 5 years, the electronics manufacturing sector is expected to see record growth and talked about the recently announced Semicon India Programme with a total outlay of over 10 billion dollars.
The programme aims to provide financial support to companies investing in semiconductors, display manufacturing and design ecosystems.
Current Scenario
Semiconductor devices today have become the hallmark of innovation and tech prowess enabling transistors, tens of thousands of times thinner than a strand of hair.
The first Super Fab Lab set up in Kerala in collaboration with the Massachusetts Institute of Technology (MIT) aims to give a major push to the hardware industry by eliminating boundaries between the digital and physical worlds.
Projects like Shakti of IIT Madras & Ajit of IIT Bombay have made native microprocessors a reality for India. Although as per MeitY, domestic production increased from USD 29 B in 2014-15 to USD 70 B in 2019-20, most production only involves final assembly in India.
Job Creation
Economic Survey 2019-20 highlighted “assembly in India for the world”, particularly in “networked products”, aiming to create four crore well-paid jobs by 2025 and eight crore jobs by 2030.
Indian electronics sector has witnessed rapid growth which is expected to cross USD 400 billion by 2023-24. Through various schemes, the Government has laid thrust on boosting the electronics/ semiconductor manufacturing landscape and establishing India’s position in this sector globally.
To attract investment worth INR 40,000 Cr
To establish 3 Electronics Manufacturing Clusters (EMC) in the state
To establish 3 Centers of Excellence (CoE) in the state
In sync with the SemiconIndia vision, the state of UP has set a target
To attract investment in semiconductor manufacturing through FAB units
To provide approx. 4 Lakh (0.4 million) employment opportunities within the state.
Uttar Pradesh's Target in Sync with SemiconIndia's vision