New Delhi, June 15 (IANS) Union Heavy Industries and Steel Minister, H.D. Kumaraswamy, on Saturday, said semiconductor is a strategic industry and he will work towards fulfilling Prime Minister Narendra Modi’s initiatives in the sector that will generate many jobs.
In a post on social media platform X, the minister said semiconductor is a basic requirement for electronics and automobile manufacturing which is bolstered by the production-linked incentive (PLI) scheme.
“Both these sectors generate lots of employment. I greatly appreciate the semiconductor-related initiatives taken by @PMOIndia and will work towards fulfilling them through my ministry,” said Minister Kumaraswamy.
Former Union Minister Rajeev Chandrasekhar said in a post on X that capital support for strategic sectors like semiconductors is critical to growing India’s presence in the global tech manufacturing sector.
“Our digital and tech economy is creating many investments and jobs, especially in electronics manufacturing, which, in turn, depends on semiconductors,” Chandrasekhar said.
For the BJP-led NDA government, the areas of focus for the next decade clearly are electronics and microelectronics manufacturing, semiconductors, AI, automotive and EVs.
PM Modi recently laid the foundation stone for semiconductor plants worth over Rs 1.25 lakh crore.
India is the fastest-growing digital economy in the world and aims to become a trillion-dollar digital economy by 2030.
According to Union Railways, I&B and IT Minister Ashwini Vaishnaw, the country has commissioned four semiconductor manufacturing units and in the next five years, the country will become one of the biggest semiconductor hubs in the world.
India’s semiconductor-related market is likely to reach $64 billion in 2026, nearly triple the size in 2019, according to Counterpoint Research.
–IANS
na/uk
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
