We'll love to see Intel, TSMC, Samsung, other semiconductor giants invest in India: Minister of state IT
Earlier this month, the government approved a mega scheme to boost semiconductor and display manufacturing in the country.
Published: 28th December 2021 07:47 PM | Last Updated: 28th December 2021 07:47 PM | A+A A-
Minister of State IT Rajeev Chandrasekhar (Photo | PTI)
NEW DELHI: Interest level among global majors after India announced a Rs 76,000-crore semiconductor scheme is clearly "high" and the government would love to see Intel, TSMC, Samsung, and other technology majors investing in the country, Minister of State for IT Rajeev Chandrasekhar said on Tuesday.
India is keen to welcome all semiconductor majors to explore exciting investment opportunities in the country, Chandrasekhar told PTI.
"Among the companies that we would love to see invest in India are Intel, TSMC, Samsung, global foundries...and all other semiconductor technology majors, manufacturing, design and testing companies.
It is clear that interest levels in global majors after PM's announcement of Rs 76,000 crore initiative is much higher and much more serious today than it ever was in the last many years," Chandrasekhar said.
Meanwhile, IT Ministry sources said that guidelines will be issued in early January 2022 on modalities of applying for semiconductor incentives and that players will be given about 45-90 days to respond.
Earlier this month, the government approved a mega scheme to boost semiconductor and display manufacturing in the country, in a bid to position India as a global hub for hi-tech production and attract large chip makers.
The move is expected to further India's ambitions to be self-reliant in electronics manufacturing, bring massive investments and result in 35,000 specialised jobs apart from indirect employment for one lakh people.
Under the Rs 76,000-crore scheme approved for the development of semiconductors and display manufacturing ecosystem by India, incentives have been lined up for companies engaged in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging and semiconductor design.
With the semiconductor incentive scheme in place, the government expects investments of around Rs 1.7 lakh crore and 1.35 lakh jobs in the next four years.
Earlier on Tuesday, IT Minister Ashwini Vaishnaw took to Twitter to "welcome" Intel to India following a post by Intel Foundry Services president Randhir Thakur lauding the semiconductor design and manufacturing incentives announced by the government.
The posts created a flutter in the industry as the sector buzzed with talks of US chipmakers' heightened interest in the market, at a time when India has rolled out sweeteners to boost semiconductor manufacturing and related ecosystem.
IT Minister Ashwini Vaishnaw on Tuesday had tweeted "Intel - welcome to India."
Intel - welcome to India. https://t.co/1Wy90HfAjy
— Ashwini Vaishnaw (@AshwiniVaishnaw) December 28, 2021
This was in response to a tweet by Intel's Thakur which said, "Congrats to @GoI_MeitY @AshwiniVaishnaw @Rajeev_GoI for Semiconductor design & manufacturing incentives for India as a hub for electronics & semiconductors".
Thakur further wrote: "Glad to see a plan laid out for all aspects of the supply chain: talent, design, manufacturing, test, packaging & logistics".
Intel, however, has not issued any official statement detailing out its specific plans or strategy for India, in the backdrop of the new semiconductor incentives.
