Domestic companies looking to build semiconductor fabrications

Domestic companies, such as Tata, have indicated an interest in establishing semiconductor fabrication plants in the country, as per the Economic Survey for 2022-23, tabled in Parliament on Tuesday.

The Survey added that India is on the “right trajectory” to reach $300 billion worth of electronics manufacturing and $120 billion in exports by FY26 due to an improvement in manufacturing and export over the last five years.

According to the Survey, electronic goods were among the top five commodity groups that exhibited positive export growth in November 2022. The exports in this segment grew by 55.1 per cent year-on-year.