The Indian government will soon unveil the Semicon 2.0 program, an expanded version of the current initiative aimed at boosting the country’s semiconductor ecosystem, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said on Wednesday.
Speaking at the Semicon India summit at the India Expo Mart in Greater Noida, Vaishnaw said, “Semicon 2.0 may be unveiled in three to four months. The second phase will focus on the complete value chain.”
The original program, known as the Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India (Semicon 1.0), was launched in December 2021 with a budget allocation of ₹76,000 crore.
Vaishnaw said that India’s semiconductor ecosystem is gaining international recognition, with industry leaders praising the country’s progress. He also revealed that plans for upgrading the semiconductor lab in Mohali have been completed and will soon be presented to the Union Cabinet for approval.
So far, five semiconductor units have been approved in India, with construction already underway at two sites. Work on the remaining three units is expected to begin soon. In June 2023, the Union Cabinet approved a semiconductor unit in Sanand, Gujarat, and in February 2024, three more units—two in Gujarat and one in Assam—were approved. Kaynes Semicon Pvt Ltd was recently granted approval for an additional facility in Sanand.
These initiatives represent a cumulative investment of nearly ₹1.5 lakh crore. Additionally, American semiconductor giant Micron is establishing a high-end fabrication plant in Sanand, Gujarat, which is progressing rapidly and expected to become operational by late 2024.
India’s electronics sector is currently valued at over USD 150 billion. Earlier today, while inaugurating the Semicon India summit, Prime Minister Narendra Modi outlined an ambitious plan to expand the sector to USD 500 billion by the end of the decade, creating six million jobs.
“Our aim is for 100 per cent of electronic manufacturing to take place in India. India will make semiconductor chips and the finished product too,” PM Modi said.
(With ANI input)