The central government is targeting 10% stake in global electronics manufacturing and investment of Rs 90,000 crore in semiconductors alone. Saurabh Gaur, Joint Secretary, IT Ministry told CNBC-TV18 that the central government is also in talks with chip suppliers to address the problem of chip shortage. As far as semiconductor production in India is concerned, Gaur said that “its potential in the country is only after 2 years.”
Gaur also pointed out that Mobile PLI has seen a commitment of $5 billion over five years. “The IT Hardware PLI plan has seen HP, Dell, Acer invest,” he told CNBC-TV18.
Meanwhile, the government is already seeking applications from 100 domestic companies, start-ups and MSMEs under its Design Linked Incentive (DLI) scheme to create a “vibrant ecosystem for semiconductor chip design” in India. It recently launched a dedicated portal- www.chips-dli.gov.in- for inviting online applications from January 1, 2022 to December 31, 2024.
With an eye on investment of Rs 90,000 crore in semiconductors alone. IT mini-joint secretary Saurabh Gaur says the government is talking to chip suppliers to resolve the problem. Also, he says, India is targeting a 10% stake in electronics manufacturing. pic.twitter.com/xXxx27AHsz— CNBC-TV18 (@CNBCTV18Live) 17 January 2022
“India made a policy pitch to latch on to the digitization opportunity, considering only Rs 90,000 crore investment in semiconductors. The short supply of chips has been caused by a rapid increase in demand. The big players are able to manage their supplies,” Gaur said.
“The government is in talks with chip suppliers to resolve the issue. India has the capability of chip designing, not manufacturing. Some companies are eyeing acquisitions overseas to address chip shortages. Semiconductor production in India is likely to take place in the country only after two years.”
Talking about the DLI scheme, which was announced by MeitY in December, financial incentives and incentives to domestic companies, startups and MSMEs in various stages of development and deployment of semiconductor designs for integrated circuits (ICs), chipsets, systems and Design infrastructure support will be provided. On Chips (SoC), System and IP Core and Semiconductor Linked Design for a period of 5 years.
Watch Video: Sony WF-1000XM4 Review: Sony’s best TWS earbuds under Rs 19,990
The scheme, which was a part of a Rs 76,000 crore ($10 billion) package announced by the government in December, aims to nurture at least 20 domestic companies involved in semiconductor design and help them in the next Rs 1,500 crore. To provide facility to achieve business of more than Rs. five years.
read all breaking news, today’s fresh news And coronavirus news Here.
,