: India committed to reach 0 billion target in electronics manufacturing by 202526 #FinanceIndia #StockMarketNEWS India committed to reach 0 billion target in electronics manufacturing by 2025-26
@stockMarketNEWS 18 Days ago
India committed to reach 0 billion target in electronics manufacturing by 202526 #FinanceIndia #StockMarketNEWS
India committed to reach 0 billion target in electronics manufacturing by 2025-26 New Delhi, Nov 18 (KNN) The government has set a target to increase production in the electronics sector to USD 300 billion by 2025-26, a “26 times” increase in a period of 10 years, said, Rajeev Chandrasekhar, Union minister of electronics and technology on Thursday.
Addressing a session on ‘India’s role in Electronics & Semiconductor Manufacturing – driving towards USD 5Tn opportunity’ during the Bengaluru Tech Summit (BTS 22), Chandrasekhar said “The current electronics industry in India is valued at USD 75 billion compared to USD 10 billion in 2014. Our target is to make it worth USD 300 billion by 2025-26.”
“This will also fuel the growth of semiconductors, which eventually will accelerate the digitisation of automotive, mobility and computing,” he said.
He also added that the government of India is committed to funding USD 30 billion in electronics and semiconductors, wherein USD 20 billion will be invested in electronics manufacturing and design and USD 10 billion in semiconductor manufacturing, research and design.
In semiconductor, the government aims to create manufacturing capacity, packaging, design, verification capabilities, research and skills, he said. “Unlike Taiwan, India does not intend to focus only on manufacturing, instead it is looking at opportunities for manufacturing, design and innovation to fulfil our ambitions in semiconductors,” he added.
Indian has also been making efforts to establish itself as a trusted partner in the semiconductor sector for which the government of India has introduced India Semiconductor Mission.
Chandrasekhar mentioned that India has already received proposals to set up semiconductor manufacturing and packaging facilities in India. “We are evaluating these proposals wherein we are looking for technologies that can address the automotive, mobility and compute segments. We are not looking at creating leading edge technologies, but a 28 nanometer or 65 nanometer semiconductor business model that supports sponsor quality, process technology and capabilities. We will shortly come out with an approved proposal,” Chandrasekhar pointed out.
The minister also remarked that India has progressed significantly between 2014 and 2022, wherein the imports of electronic products have reduced and the exports and manufacturing of electronics products in India has increased manifold. (KNN Bureau)