Days after the government of India announced its Rs 76,000 crore scheme for promoting semiconductor manufacturing in India, Ashwini Vaishnaw, Minister for Electronics Information Technology welcomed Intel in India in response to the company's SVP and the president of Intel Foundry Services.
Randhir Thakur, SVP and the president of Intel Foundry Services, a world-class service organization with a strong focus on technology innovation and operational excellence praised the initiative : Congrats to the government's initiative, and praised by the president of Intel Foundry Services, a world-class service organization with a strong focus on technology innovation and operational excellence.
GoI MeitY AshwiniVaishnaw Rajeev GoI for Semiconductor Design manufacturing incentives for India as a hub for electronics semiconductors. There is a plan laid out for all aspects of the supply chain, including talent, design, manufacturing, test, packaging logistics. Minister Vaishnaw tweeted earlier this morning that Intel had reached out to Intel on the same, and will update the article once Intel shares the statement.
I'm willing to concede that it's an unprecedented opportunity for India, as the Union Minister for Electronics and Information Technology and Union Minister for Skill Development and Entrepreneurship told Business on Monday: "I'm willing to admit that it's an unprecedented opportunity." We have a Prime Minister who understands the value of technology, who has seen the opportunity for electronics in such clear terms from the very beginning. There are people like me who have experience in this space and who are in politics, and we have the whole stars aligned in terms of the post COVID geopolitical scenario. I don't like to dwell on that because I do believe that if we can't do it this time, we will never be able to do it again. This time around, I think we will do it. I think that is the kind of confidence that the industry has. That is the confidence with which even the foreign partners, who are being wooed by every country, look at India with a great deal of respect. Nobody is saying no to India. Nivruti Rai, Country Head, Intel India Vice President, Intel Foundry Services, told Business Today that India has made great progress in electronics component making and chip design. More than 90 per cent of global semiconductor companies have their R&D centres in India, and over 2,000 chips are designed every year in India, according to the Department of Electronics and Information Technology.
It takes time and strategic thinking to implement real solutions to make India a semiconductor manufacturing hub, and there are many things that need to be done. She said it's important to think about what the desired output is for Indian semiconductors. There is a need to look beyond the chips to address the varied use cases that aren't just going into consumer products, because of the growing demand for semiconductor solutions. There are plenty of opportunities for Industrial Internet of Things IIoT edge innovation and human-centric AI to explore and compute. Intel will continue to work with the government, industry, and start-up community to make India a booming destination for IT sector products and solutions, as well as to enable access and opportunities for the local technology ecosystem. The government announced on December 15 that there would be industry-friendly measures for the development of the semiconductors and display manufacturing ecosystem in the country. The union cabinet has approved a financial outlay of 76,000 crore for the semiconductor manufacturing ecosystem in India and has incentives for every part of the supply chain, including electronic components, sub-assemblies, and finished goods. The policy will support silicon semiconductor fabs, display labs, compound semiconductors silicon photonics sensors fabs, semiconductor packaging, semiconductor design, and modernisation and commercialisation of semiconductor laboratory SCL Mohali under the scheme for holistic development of semiconductor and display manufacturing systems.