Government's Semiconductor Funding: A Strong Commitment to Modernization and Growth

The government has earmarked Rs 62,000 crore for electronics plants and assures no funding issues for semiconductor projects. With a commitment to the semiconductor mission, funds from an earlier Rs 76,000 crore allocation are used for various projects, including new ones. The government targets legacy nodes and collaborates internationally for technology transfer.

The government has allocated approximately Rs 62,000 crore in incentives for electronic plants, ensuring no funding issues for semiconductor projects, according to Electronics and IT Secretary S Krishnan.

Out of a previously approved Rs 76,000 crore, funds remain to accommodate smaller projects. Krishnan emphasized prompt settlement of claims and highlighted that five semiconductor projects with an investment of around Rs 1.52 lakh crore have been approved.

Future projects will require further approval from the Ministry of Finance and the Cabinet. The government's high commitment level to the semiconductor mission includes securing additional funding if needed. India targets legacy nodes to cater to its established market and collaborates internationally for technology transfer, considering India's significant presence in the design ecosystem.

(With inputs from agencies.)