The Prime Minister of India, Narendra Modi has said that the country has no option but to be self-reliant on semiconductors. The global semiconductors crisis comes at a time of geopolitical tensions between China and the US, as well as new issues related to the Russian invasion of Ukraine.
“When it comes to semiconductors, India has no choice but to be ‘self-reliant’,” Modi said in a post-budget webinar on ‘Make in India for the world’ on March 3. Department for Promotion of Industry and Internal Trade This sector has brought new possibilities for Make in India.
Semiconductor shortages have particularly affected the consumer electronics as well as automobile sector across the globe. Most of the semiconductors are made in Taiwan, South Korea and the US which are divided among the largest chip makers and fab of TSMC, Samsung and Intel.
The Modi government has announced a production-linked incentive scheme of Rs 76,000 crore for domestic semiconductor and display board production.