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Union minister Rajeev Chandrasekhar has said that India is on track to becoming a key player in the global semiconductor supply chain in the next decade with $ 10 billion (about Rs 81,993 crore) of incentives and assistance provided to encourage local chip manufacturing. 

The minister said there is not one person in the semiconductor global ecosystem that does not see India as a very credible, viable and fast charging destination for semiconductor investments and innovation. He said ‘we are on track to do in the next 10 years with these $ 10 billion, what countries like China took 25-30 years and could not succeed’. He mentioned the Assembly, Testing, Marking and Packaging (ATMP) project with Micron will create 5,000 jobs and 15,000 indirect roles in the semiconductor industry.

He further said the government is implementing a ‘comprehensive curriculum’ in partnership with the industry for creating 85,000 globally skilled talent for VLSI (very large scale integration), with students from post-doctorate degrees, masters and undergraduate courses. He said ‘we have rebuilt the electronics ecosystem since 2014, exporting over 1 lakh crore and crossed almost 8 lakh rows of total electronic production and becoming an increasingly big presence in global value supply chains for electronics. He also announced that the government is ‘charging forward’ in the design part of the semiconductor ecosystem with 30 startups, among which five have received direct financial support from the government.