In a significant development aimed at bolstering India’s technological prowess, Union Heavy Industries and Steel Minister, H D Kumaraswamy, affirmed his commitment to advancing the semiconductor sector.
He emphasized its strategic importance and potential to create numerous job opportunities.
Taking to X, Minister Kumaraswamy underscored that semiconductors form the backbone of electronics and automobile manufacturing, crucial sectors that drive employment growth.
He expressed admiration for Prime Minister Narendra Modi’s initiatives in this domain, particularly highlighting the production-linked incentive (PLI) scheme designed to enhance semiconductor production.
“Semiconductor is a strategic industry. It is a basic requirement for electronics and automobile manufacturing. Both these sectors generate lots of employment. I greatly appreciate the semiconductor-related initiatives taken by @PMOIndia and will work towards fulfilling them through my ministry,” stated the minister.
Former Union Minister Rajeev Chandrasekhar echoed similar sentiments on platform X.
Meanwhile, he emphasized the pivotal role of capital support in strategic sectors like semiconductors to bolster India’s standing in global tech manufacturing.
Chandrasekhar emphasized the exponential growth potential of India’s digital and tech economy, driven largely by electronics manufacturing which heavily relies on semiconductors.
However, the BJP-led NDA government’s focus for the next decade includes electronics and microelectronics manufacturing, semiconductors, AI, automotive, and EVs.
Meanwhile, PM Modi recently inaugurated semiconductor plants valued at over Rs 1.25 lakh crore.
According to Union Railways, I&B, and IT Minister Ashwini Vaishnaw, India has commissioned four semiconductor manufacturing units. Over the next five years, the country aims to emerge as one of the largest semiconductor hubs globally.
Additionally, Counterpoint Research forecasts that India’s semiconductor market is poised to reach $64 billion by 2026, nearly tripling its size from 2019.
Prez Murmu and Vice President CP Radhakrishnan have wished citizens a happy Diwali, urging everyone…
Obesity, not metabolic syndrome, is linked to higher Alzheimer’s risk in adults with Down syndrome,…
The Central Government has allocated substantial financial assistance to various States for disaster response and…
Bollywood actress Parineeti Chopra and her husband, politician Raghav Chadha, have become proud parents to…
WhatsApp is preparing to roll out a major update designed to curb spam and unwanted…
A 9 mm bullet was found in a commuter’s bag at Hyderabad’s Moosapet Metro Station,…