17.6 C
Jaipur
Thursday, January 20, 2022

Indian govt would ‘love’ to see investments from Intel, Samsung, TSMC

Must read

The Indian govt is increasing stakes for the semiconductor manufacturing industry. To attract investors and other chipset industry giants, the govt recently introduced a Rs 76,000 crore semiconductor scheme. The Minister of State for IT, Rajeev Chandrasekhar emphasized the govt’s interest to see companies like Intel, TSMC, Samsung, and other technology majors build infrastructure in India. Also Read – Will Intel be the first major semiconductor manufacturing company to set shop in India?

Chandrasekhar told PTI that India is keen to welcome all semiconductor majors to explore exciting investment opportunities in the country. Also Read – CES 2022: Now Google, Intel, GM, Lenovo cancel plans amid rising Covid-19 cases

“Among the companies that we would love to see invest in India are Intel, TSMC, Samsung, global foundaries…and all other semiconductor technology majors, manufacturing, design and testing companies. It is clear that interest levels in global majors after PM’s announcement of Rs 76,000 crore initiative is much higher and much more serious today than it ever was in the last many years,” Chandrasekhar said. Also Read – BGR Tech Excellence Awards 2021: Winners in the chipset category

The IT Ministry has announced that the govt will issue guidelines in early January 2022 on modalities of applying for semiconductor incentives and that players will be given about 45-90 days to respond.

In view of the global semiconductor shortage and India’s heavy dependence on other markets like China, the Indian govt has introduced a scheme to boost semiconductor and display manufacturing in the country.

This scheme is expected to bring in massive investments and result in 35,000 specialized jobs apart from indirect employment for one lakh people. In the next four years, the govt is expecting investments of around Rs 1.7 lakh crore and 1.35 lakh jobs.

Could Intel be the First?

Randhir Thakur, President of Intel Foundry Services recently applauded govt’s new scheme in a tweet. The IT Minister Ashwini Vaishnaw responded by welcoming the company to India for developing manufacturing facilities. The response triggered speculations that Intel might become the first major chipset manufacturer to announce its entry into India.

In response to BGR.in’s query, Intel responded by saying, “Intel India is Intel’s largest design centre outside of the US and we have been investing towards accelerating innovation and design engineering in India over the last two decades. However, we have no new plans to announce at this time.”





Source link

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article