As the Union Budget for 2025-26 approaches, the Ministry of Finance has unveiled key highlights, particularly in the area of semiconductor and electronics manufacturing. In a recent social media post, the ministry emphasized the government’s commitment to boosting India’s technological infrastructure, stating, “The Scheme for ‘Programme for development of Semiconductors and Display Manufacturing Ecosystem’ aims to provide attractive incentive support to semiconductor packaging and designing companies.”
Semicon India Programme: A Game-Changer For India’s Tech Industry
The Semicon India Programme, which was approved on December 15, 2021, has made remarkable progress. Designed to position India as a key player in the global semiconductor market, the initiative has already approved five semiconductor projects. Additionally, 16 semiconductor design companies have received government support. These projects are expected to attract a staggering Rs 1.52 lakh crore in cumulative investment.
Also Read: Maha Kumbh 2025 In Prayagraj Set To Boost Uttar Pradesh’s Global Brand
The economic impact of these initiatives is significant. The semiconductor projects are projected to create around 25,000 direct jobs in advanced technology roles. Another 60,000 indirect jobs are expected to follow, underscoring the programme’s potential to boost India’s tech workforce.
Electronics Manufacturing: A Thriving Sector
The success of the semiconductor initiative is closely tied to the broader growth of India’s electronics manufacturing sector. The Production-Linked Incentive (PLI) Scheme for electronics has been particularly successful. India has seen production worth Rs 6.14 lakh crore and exports totalling Rs 3.12 lakh crore. This has resulted in over 1.28 lakh direct jobs in the electronics sector, further solidifying the country’s position as a global manufacturing hub.
Vision For A Developed India
The Ministry of Finance also highlighted the importance of Convergence, Communications, and Broadband Technologies (CC&BT) in achieving India’s vision of becoming a ‘Viksit Bharat’ (developed India). As the country pushes forward with its technology and manufacturing goals, CC&BT will play a crucial role in shaping the future economy.
With a clear focus on semiconductors and electronics, the government is setting the stage for India to emerge as a global leader in technology and manufacturing, creating thousands of jobs and attracting significant investment along the way.
To read more such news, download Bharat Express news apps
