Indigenous production of electronic goods in India has seen a significant increase, more than doubling from Rs3.88 lakh crore in 2017-18 to Rs 8.25 lakh crore in 2022-23, according to the Minister of State for Electronics and IT, Rajeev Chandrasekhar. He mentioned that semiconductors worth Rs 1,29,703 crore were imported during the same period.
Chandrasekhar attributed this growth to the initiatives taken by the government and the efforts of the industry. He also highlighted that the government is focused on expanding the semiconductor ecosystem to further boost India’s electronics manufacturing and innovation ecosystem.
The minister emphasized that semiconductors play a crucial role in electronic products, and the growth of the electronics manufacturing sector has resulted in proportional growth in the semiconductor market in India.
To support the development of the semiconductor and display manufacturing ecosystem, the government has approved the Semicon India program with an outlay of Rs 76,000 crore. This program aims to provide financial support to companies investing in semiconductors, display manufacturing, and design ecosystems.
Additionally, the government has approved the modernization of the SemiConductor Laboratory in Mohali and has granted permission to Micron Technology Inc to set up a semiconductor ATMP (Assembly, Testing, Marking, and Packaging) unit in India with a capital investment of Rs 22,516 crore.
The increase in indigenous production of electronic goods and the government’s focus on the semiconductor ecosystem are expected to further propel India’s electronics manufacturing sector and contribute to the country’s overall economic growth.
