India' own semiconductor consumption to cross $80 billion by 2026
In this technologically connected world, semiconductors play a pivotal role.
NEW DELHI: In this technologically connected world, semiconductors play a pivotal role. To give a boost to this particular sector, India recently hosted a big conference. Indian Prime Minister Narendra Modi said India's own consumption of semiconductors is expected to cross $80 billion by 2026 and $110 billion by 2030.
"We are investing heavily in skilling and training young Indians for the needs of the 21st century. We have an exceptional semiconductor design talent pool which makes up to 20 per cent of the world's semiconductor design engineers. Almost all of the top 25 semiconductor design companies have their design or R&D centres in our country," he said at the Semicon India Conference.
"Our 'Production Linked Incentives' schemes offer incentives of over $26 billion in 14 key sectors. Over the next 5 years, the electronics manufacturing sector is expected to see record growth. We recently announced Semi-con India Programme with a total outlay of over $10 billion. This programme aims to provide financial support to companies investing in semiconductors, display manufacturing and design ecosystem. We are aware that in order for a semiconductor ecosystem to flourish, it is necessary to ensure adequate support from the Government. Allow me to put our approach in the language of semiconductors itself." (IANS)