Union cabinet sanctions Rs. 76,000 crores for semi-conductor manufacture and design. India welcomes Intel for the same.

One of the major setbacks the Telecom Industry in India has faced recently is the shortage of semiconductors chips. This is hopefully coming to an end with the new decision made by the Central Government. The Union Cabinet has passed the green flag on a budget of Rs. 76,000 crores with regards to semi-conductor chip manufacture within the country.

After the Central Government decided to approve the plan, Union Minister for Electronics and Information Technology Ashwini Vaishnaw, tweeted a welcome message in reply to a message from Dr Randhir Thakur, Intel Foundry Services president.

Intel – welcome to India,” the minister tweeted.

Dr. Thakur had congratulated the IT minister in an earlier tweet highlighting the new step taken by the country.

Congratulation to Ministry of Electronics and IT, Ashwini Vaishnaw, Rajeev Chandrasekhar for Semiconductor design and manufacturing incentives for India as hub for electronics and semiconductors,’ Glad to see a plan laid out for all aspects of the supply chain: talent, design, manufacturing, test, packaging and logistics,” tweeted Thakur.

According to Shri Ashwini Vaishnaw, India, under the leadership of Prime Minister Narendra Modi, has taken a strategic and historic decision with this step. This can also lead to the evolution of an electronic ecosystem within the nation. As Intel takes up the manufacturing of chips in India, we can witness a revolution starting from the design, testing, fabrication and packaging of the semi-conductors, all in our country itself. The investment is expected to be Rs 76,000 crores which has been sanctioned by the Union cabinet.

Today we have reached $75 billion (roughly Rs. 5,61,306 crore) in electronics manufacturing in 7 years. With the pace that we are moving at, in the next six years, we will reach $300 billion (roughly Rs. 22,45,240 crore) in electronics manufacturing, ” Ashwini Vaishnaw informed.

Intel has not informed any decision regarding investment from their side. There may be chances of the same at a later stage. We can expect to see a huge leap in the developmental front of the Telecom industry in the upcoming phases of 2022.