The Union Minister of State for Electronics and Information Technology, Jitin Prasada, informed the Lok Sabha that the government has greenlit 10 projects in different stages of pilot production, with investments totaling around Rs. 1.6 lakh crore. Among these, four projects have already commenced production. The sanctioned projects encompass two fabs and eight packaging units, including CMOS fabs, a silicon carbide fab, and advanced packaging and memory packaging units.
In a bid to boost the semiconductor and display manufacturing ecosystem, the government initiated the Semicon India Programme with a budget of Rs. 76,000 crore. This program aims to cover the entire spectrum from design and fabrication to assembly, testing, packaging, and module manufacturing and fabrication. Additionally, the Ministry of Electronics & IT disclosed that 350 universities now have access to electronic design automation tools, benefiting 65,000 engineers.
Furthermore, the government shared that the IT sector has witnessed significant growth over the past five years. According to estimates by the National Association of Software and Services Companies (NASSCOM), exports from the sector surged from $152 billion to $224.4 billion between 2020-21 and 2024-25. The total revenue of the sector also saw a rise from $196 billion to $283 billion during the same period.
The launch of the India Semiconductor Mission 2.0 is anticipated to bolster the country’s technology ecosystem by enhancing the integration of hardware and software capabilities. This move is poised to position India as a frontrunner in next-generation digital infrastructure. Analysts foresee that this initiative will play a crucial role in strengthening India’s semiconductor manufacturing ambitions.
The government’s scheme worth Rs. 7,280 crore for Sintered Rare Earth Permanent Magnets (REPM) is expected to play a pivotal role in supporting India’s broader semiconductor manufacturing goals. This initiative is crucial for ensuring secure access to strategic materials, thereby fortifying India’s semiconductor industry.
