India’s economic power, claiming that while controlling inflation, the nation continues to have the largest and fastest-growing economy. Despite the COVID period, we are witnessing the fastest-growing large economy of our time, with inflation under control. Today, we can state with confidence that, while keeping inflation under control, we will continue to grow at a rate of 6–8% for the next several years.
There are a lot of new programs for lower-income families, and this year, the middle class received significant tax relief of up to Rs 12 lakhs per year, which is a significant increase from previous years.
It was announced that Lam Research has made a substantial investment of more than Rs 10,000 crore in India, greatly bolstering the country's aspirations in the semiconductor industry. The investment is a component of Lam Research's strategy to add India to its worldwide supply chain for chip manufacturing equipment. The business and the Karnataka government have already inked a memorandum of understanding for the company to lease and eventually buy a piece of property in Bengaluru’s Whitefield.
In India’s semiconductor journey, which aspires to create a sustainable semiconductor and display ecosystem in the nation, this development represents a major turning point. Five projects totaling Rs 76,000 crore in expenditures have been approved by the Indian Semiconductor Mission (ISM).
By 2030, the Indian semiconductor market is expected to reach USD 103.4 billion, driving the country’s electronics market, which is valued at over USD 400 billion.
To advance India’s semiconductor industry, the government’s targeted incentives for fabrication facilities and outsourced semiconductor assembly and testing boosted R&D spending. Collaborative industry activities are also essential.