In a proclamation made on Friday, Prime Minister Narendra Modi articulated that the impending semiconductor establishments will augment India’s “metamorphic expedition” towards technological autonomy.
Sanctioned on Thursday by the Union Cabinet, the propositions to establish three semiconductor factories, encompassing a colossal fabrication facility by the Tata Group, involve a cumulative investment of Rs 1.26 lakh crore. This strategic move positions India on the trajectory to becoming a global juggernaut in chip production.
Modi expounded on X, stating, “Endorsed by the Cabinet, the establishment of three semiconductor entities as part of the India Semiconductor Mission propels us further in our transformative journey towards technological self-sufficiency. This monumental step will concurrently propel India’s ascendancy as a worldwide epicenter for semiconductor manufacturing.”
To invigorate the domestic manufacturing of semiconductors—an indispensable constituent of electronic contrivances found in mobile phones, laptops, refrigerators, washing machines, and automobiles—the government is proffering incentives amounting to Rs 76,000 crore.
The triumvirate of units accorded support under this scheme will fabricate chips catering to diverse sectors such as defense, automotive, and telecommunications. Commencing construction within the ensuing 100 days, as affirmed by Minister for Electronics and IT, Ashwini Vaishnaw, in his discourse with reporters post the cabinet conclave.