ENA Sectors 2024-09-18 16:03:19 <p><span style="font-size:14px"><strong>New Delhi, Sep 18 (KNN)</strong> India is poised to become a major force in the global semiconductor industry within the next decade, according to Home Minister Amit Shah.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"> 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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">The facility is expected to produce India-made chips by the end of the year.</span></p> <p><span style="font-size:14px">In addition, Shah mentioned the recent approval of Kaynes Semiconductor's Rs 3,300-crore proposal to set up another semiconductor unit in Sanand.</span></p> <p><span style="font-size:14px">Shah also emphasised the growing global interest in India's Digital India initiatives, with several countries looking to replicate similar programs.</span></p> <p><span style="font-size:14px">He further noted the removal of the 31 per cent angel tax in the 2024 budget to support start-ups and drive innovation.</span></p> <p><span style="font-size:14px">On the space front, Shah highlighted the celebration of Indias first National Space Day on August 23, aimed at inspiring youth interest in the space sector.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39323 https://knnindia.co.in/news/newsdetails/sectors/india-set-to-emerge-as-key-player-in-global-semiconductor-market-amit-shah 2024-09-18 16:03:19 knnindia.co.in