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Summary:

Union Minister Ashwini Vaishnaw announced that India’s first 'Made in India' chip will be released this year, ahead of the December 2024 deadline. Speaking at the World Economic Forum in Davos, he praised India’s semiconductor initiative, highlighting significant industry backing. He emphasized the need to improve semiconductor material purity levels, stating that the industry is working on revolutionary advancements to meet these standards.

 

India's semiconductor ambitions received a major boost with the approval of the Semicon India initiative in December 2021, which has a total budget of Rs. 76,000 crore (US$ 8.79 billion) to establish a semiconductor and display manufacturing ecosystem. The government also launched the India Semiconductor Mission to drive long-term strategy in this area. Furthermore, India is attracting substantial international investment, with companies like NXP Semiconductors planning to invest over Rs. 8,644 crore (US$ 1 billion) in R&D and Micron Technology setting up a Rs. 23,771 crore (US$ 2.75 billion) assembly and testing facility in Gujarat. According to Reuters, India's semiconductor industry is expected to reach Rs. 5,44,572 crore (US$ 63 billion) by 2026.

 

Source: IBEF

 

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