The Gujarat government has allotted land for India’s first semiconductor plant near Dholera. Work is expected to begin by 2024. A joint venture by Foxconn and Vedanta to set up the semiconductor fabrication plant in Dholera, it is all set to become operational by 2024. Notably, Foxconn and Vedanta will invest $19.5 billion in India.
To boost semiconductor manufacturing in the country, Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, on Saturday, announced that the government will come up with a program very soon to put the country on a good semiconductor journey for the next 10 years.
With a budget of Rs 76,000 crore, the government launched the Semicon India Programme in December 2021. The programme aims to encourage the growth of India’s semiconductor and display manufacturing ecosystems.
Earlier, Jitubhai Vaghani, Minister of Science and Technology Department said that it is a matter of pride for Gujarat to be the first state in the country to come up with a unique, committed policy to support the semiconductor and display manufacturing sector.
The Gujarat Semiconductor Policy, which will unroll between 2022 to 2027, has been declared with the aim to endorse quick and inclusive growth in the domestic semiconductor chip manufacturing sector in the state. It is expected to create about two lakh jobs in the next five years.
Gujarat is the first state to announce a dedicated semiconductor policy that includes subsidies for land acquisition, capital investment, stamp duty reimbursement, a fixed water tariff, and a 10-year electricity tariff subsidy.
Since 2014, India’s electronics sector has increased at an unprecedented rate. The industry has grown from approximately Rs 1,10,000 crore in 2014 to approximately Rs 6,00,000 crore this year. There were only two Mobile manufacturing units in 2014. Now the figure stands at over 200.
Likewise, in 2015-16, India’s mobile exports were close to zero. It reached Rs 27,000 crores in 2019-20, propelled by the PMP and PLI Schemes, and saw a 66% increase to Rs 45,000 crores in the first year of the PLI Scheme.
Also Read: RBI Push To December Launch Of CBDC Pilot In Delhi’s Chandni Chowk
