In a significant move to boost employment and strengthen India’s position in the global semiconductor industry, the Union Finance Ministry has announced that the Semicon India Scheme is expected to create around 85,000 jobs.
This initiative is part of the government’s broader strategy to enhance investments, employment, and technological advancements in the electronics manufacturing sector.
Semicon India Scheme: Background and Objectives
The Semicon India Scheme, approved on December 15, 2021, aims to position India as a global leader in semiconductor and display manufacturing.
The scheme provides attractive incentives to companies engaged in semiconductor packaging and designing, fostering innovation and growth in the sector.
The programme has already approved five semiconductor projects and supported 16 semiconductor design companies.
Together, these efforts have attracted a cumulative investment of ₹1.52 lakh crore.
The projects under the Semicon India Programme will generate around 25,000 advanced technology direct jobs. Additionally, they will create 60,000 indirect jobs.
This marks a significant milestone in boosting India’s technological workforce and contributing to the country’s economic growth.
The scheme aims to provide attractive incentives to companies involved in semiconductor packaging and designing, establishing India as a global hub for semiconductors and display manufacturing.
Production and Exports
Under the PLI Scheme for electronics, India has recorded production worth ₹6.14 lakh crore and exports of ₹3.12 lakh crore.
This has led to the creation of over 1.28 lakh direct jobs in the sector. This further solidifies India’s status as a global electronics manufacturing powerhouse.
The success story extends to the broader electronics manufacturing sector. This sector has made significant contributions to the global supply chain and economic growth.
The Ministry emphasized the importance of Convergence, Communications, and Broadband Technologies (CC&BT).
These technologies are crucial in achieving the vision of a developed India, or Viksit Bharat.
We expect these technologies to play a transformative role in shaping the country’s digital and economic future.
India’s journey to becoming a leader in electronics and semiconductor manufacturing continues to gain momentum.
This progress is driven by a robust policy framework and significant investments.
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