According to Rajeev Chandrasekhar, minister of state for electronics and IT, the government is likely to begin allowing requests to establish production facilities for electronic chips and displays in the nation over the next 30 to 60 days.

Speaking at the IESA Vision Summit, Chandrasekhar noted that over the past 8 to 9 months, the nation's semiconductor ecosystem has made significant strides.

Five businesses have submitted plans to the government for the establishment of production facilities for electronic chips and displays with a total investment of Rs. 1.53 lakh crore.

Vedanta Foxconn JV, IGSS Ventures, and ISMC plan to invest USD 13.6 billion in the construction of electronic chip manufacturing facilities, and they have requested USD 5.6 billion in support from the Center as part of the USD 76,000 crore Semicon India Programme.

In his virtual presentation to the summit, Chandrasekhar stated, 'Over the next couple of months, I guess over the next 30 to 60 days. Government of India and India Semiconductor Mission will be rolling out those ideas that have been evaluated and that have cleared the investment.'

He claimed that the industry is very interested, and there are several suggestions, including investments in wafer production facilities, silicon compounds, packaging, and testing.

'State governments have acted with extraordinary haste. State governments in states like Gujarat and Karnataka have responded very pro-actively to this brand-new possibility for growth, job creation, investments, and innovation 'said Chandrasekhar.

A manufacturing facility for electronic chips has been announced by the Vedanta Foxconn JV for Gujarat. He claimed that substantial investment is needed in the semiconductor industry and that the government views this sector as a long-term investment.

India would consume almost USD 27 billion orth semiconductors in 2022, according to a report cited by Chairman of the India Electronics and Semiconductor Association (IESA) Vivek Tyagi. 'It is anticipated that this semiconductor usage will reach over USD 70 billion by 2026.

Although it may seem like a sizable market, just 10% of the USD 27 billion in semiconductors were actually purchased in India. This is a problem, and the IESA and the industry as a whole must collaborate to resolve it. If we concentrate on designing and producing electronic systems in India, 'added Tyagi.

He claimed that although the government's incentives have boosted the electronics industry, the majority of the items are still put together in India.