On Friday, Union Minister Rajeev Chandrasekhar said that the Centre would spend $2 billion on research and prototyping at the Semiconductor Laboratory (SCL) in Mohali. According to the minister, the government has created a semiconductor education curriculum for colleges and universities in collaboration with the industry, allowing India to become a global talent hub for semiconductor design.
He claimed that the nation’s semiconductor business has seen the emergence of about 27 startups in recent years.
The swift increase of this number to 100 is the government's top priority. The Centre has allocated between Rs 1,100 and Rs 1,200 crore to help local startups in semiconductor design. A production-linked incentive package worth Rs. 76,000 crores has also been mooted to entice chip manufacturing firms to build factories in the nation.
According to a survey by Counterpoint Research and the India Electronics & Semiconductor Association (IESA), the country’s semiconductor market would reach $64 billion by 2026, nearly
tripling its current size of $22.7 billion in 2019. Two-thirds of the market share will be made up of industrial applications and the nation’s telecom stack.
In order to achieve its goal of being a trustworthy partner in international supply chains, India is developing long-term policies with the next 25 years in mind.