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India is aiming to create 100 semiconductor design startups in the near future that will develop innovative designs and solutions not only for the domestic market but also for the world, Minister of State for Electronics and IT Rajeev Chandrasekhar said here on Friday.

Addressing a gathering of students, young innovators, industry stakeholders and others at IIT Delhi, the minister said that the country will soon have a talent pool of 85,000 highly-skilled professionals in the semiconductor space.

"Our target is to create 100 semiconductor design startups as there are immense innovation possibilities in this space," said Chandrasekhar during the keynote at the third edition of the flagship 'Semicon India' event.

According to Chandrasekhar, in just 14 months, the country has not only created opportunities in manufacturing and design but "with brand new curriculum in place, we will soon deliver a brand new 85,000 talent pool not only for India but also for the world".

"There is nothing in the digital space or in the tech space that India will not be a part of in the coming years," said the minister.

Hidetoshi Shibata, President and CEO of Japanese semiconductor manufacturing company Renesas Electronics, said at the event that India is a critical part of the company's global business and there are countless opportunities for collaboration in the semiconductor space.

Prime Minister Narendra Modi has allocated a budget of Rs 1,200 crore to invest in the Indian semiconductor design startups.

The country recently launched a Rs 76,000 crore production-linked incentive (PLI) scheme for semiconductors and display manufacturing units.