New Delhi [India], January 20 : As the Union Budget 2025-26 nears, the Ministry of Finance has highlighted the significant Union Budget announcements, particularly focusing on the development of the semiconductor and electronics manufacturing ecosystem.
In a social media post the ministry stated that "The Scheme for 'Programme for development of Semiconductors and Display Manufacturing Ecosystem' aims to provide attractive incentive support to semiconductor packaging and semiconductor designing companies".
The Semicon India Programme, approved on December 15, 2021, has made significant strides in strengthening India's position in the global semiconductor industry.
Under the programme, the government has approved five semiconductor projects and supported 16 semiconductor design companies. These initiatives are expected to attract a cumulative investment of Rs 1.52 lakh crore.
Moreover, the projects are projected to generate around 25,000 advanced technology direct jobs and an additional 60,000 indirect jobs, marking a significant milestone in boosting India's technological workforce.
The programme is designed to provide attractive incentives to companies involved in semiconductor packaging and designing, aiming to establish India as a global hub for semiconductors and display manufacturing.
The success story extends to the broader electronics manufacturing sector as well. Under the Production-Linked Incentive (PLI) Scheme for electronics, India has recorded production worth Rs 6.14 lakh crore and exports of Rs 3.12 lakh crore. This has led to the creation of over 1.28 lakh direct jobs in the sector, further solidifying India's status as a global electronics manufacturing powerhouse.
The ministry also emphasized that technologies in Convergence, Communications, and Broadband Technologies (CC&BT) will play an important role in achieving the vision of a developed India, or Viksit Bharat, in the coming years.
With a robust policy framework and significant investments, India's journey to becoming a leader in electronics and semiconductor manufacturing continues to gain momentum.
As the country embraces advancements in these critical technologies, it is poised to contribute significantly to the global supply chain and foster economic growth.