Govt to invest $30 bn in electronics, chip industry

The government of India will invest $30 billion in electronics and semiconductors Minister of State for Skill Development and Entrepreneurship of India Rajeev Chandrasekhar said in his keynote address on Day 2 of the 25th edition of Bengaluru Tech Summit. “$20 billion in electronics manufacturing and design and $10 billion in semiconductor manufacturing research and design,” the Minister said.

The investment will help in creating manufacturing, packaging, verification, design and skill capacities in the country, he added.

India’s semiconductor industry is expected to touch $300 billion by 2026, growing at a compounded annual growth rate of 19%, as per a joint study by the India Electronics & Semiconductor Association (IESA) and Counterpoint Research. This will place the country alongside other major semiconductor-making countries including Taiwan, Korea and the US.