New Delhi: India is rapidly approaching the dream of having semiconductor fabrication units in the country. The government, which is Bullish about having fabrication units along with the semiconductor ecosystem in India in the next five years, is committed to making very strong policy efforts to make it happen.
The summit is said to be India’s gateway to the global Electronic Systems Design and Manufacturing (ESDM) ecosystem. The last decade is considered to be the pivotal year for India’s ESDM industry. The ESDM industry is ready to contribute about 20% of India’s projected $ 5 trillion economy and play an important role in GDP and employment growth.
MeitY has been working very closely with IESA and is looking for at least 20 companies to have a turnover of more than Rs 1,500-2,000 crore in electronic design segment.
“With 5G coming in and EV proliferation happening, the semiconductor demand is going to pick up. There is a huge domestic market to cater, around $70 billion (in) five years from now, and we have to get started today,” Saurabh Gaur, IAS, Joint Secretary in the Ministry of Electronics & Information Technology (MeitY) said, while speaking at the 16th edition of IESA’s Vision Summit.
Currently, India manufactures almost $75 billion worth of electronics in the country. The value addition in the country presently is at 15 per cent for smartphones, and around 40-50 per cent for white goods.
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