India Set To Emerge As Key Player In Global Semiconductor Market: Amit Shah

New Delhi, Sep 18 (KNN) India is poised to become a major force in the global semiconductor industry within the next decade, according to Home Minister Amit Shah.

Speaking at a press conference on Tuesday, marking the completion of 100 days of the third term of the Narendra Modi-led government, Shah expressed confidence in India's growing role in this critical sector.

"In the coming 10 years, India will be a very big player in the field of semiconductors," Shah stated, highlighting the semiconductor manufacturing plant being developed in Sanand, Gujarat.

US-based chipmaker Micron is investing USD 2.7 billion to establish a chip assembly and testing facility in Sanand, which is one of the first major projects under the Rs 76,000-crore India Semiconductor Mission.

The facility is expected to produce India-made chips by the end of the year.

In addition, Shah mentioned the recent approval of Kaynes Semiconductor's Rs 3,300-crore proposal to set up another semiconductor unit in Sanand.

Shah also emphasised the growing global interest in India's Digital India initiatives, with several countries looking to replicate similar programs.

He further noted the removal of the 31 per cent angel tax in the 2024 budget to support start-ups and drive innovation.

On the space front, Shah highlighted the celebration of India’s first National Space Day on August 23, aimed at inspiring youth interest in the space sector.

He also pointed to the Rs 1,000-crore venture capital fund announced in the budget to support space start-ups and foster innovation in the space economy.

Looking ahead, Shah revealed that 5,000 individuals would be trained as ‘cyber commandos’ over the next five years, and a cyber-criminals registry would be established to strengthen the nation's cybersecurity capabilities.

(KNN Bureau)