India's Semiconductor Scheme Set to Generate 85,000 Jobs: Government
Click to start listening
Synopsis
As the Union Budget 2025-26 approaches, the Union Finance Ministry touts the government's semiconductor initiative and PLI scheme as key drivers for investment and job creation, aiming to elevate India's position in the global electronics sector.
Key Takeaways
- Semicon India Programme approved on Dec 15, 2021.
- Projected to create 25,000 direct and 60,000 indirect jobs.
- Expected investment of Rs 1.52 lakh crore.
- PLI scheme for electronics generated Rs 6.14 lakh crore in production.
- Technological advancements critical for Viksit Bharat.
New Delhi, Jan 21 (NationPress) As the Union Budget 2025-26 approaches, set to be unveiled on February 1, the Union Finance Ministry has underscored the government's accomplishments in enhancing investments and job opportunities through the semiconductor initiative and the Production-Linked Incentive (PLI) scheme for electronics manufacturing.
The ministry proclaimed, “The Scheme for ‘Programme for development of Semiconductors and Display Manufacturing Ecosystem’ is designed to deliver compelling incentive support to companies engaged in semiconductor packaging and design.”
The Semicon India Programme, which received approval on December 15, 2021, has made remarkable progress in fortifying India's role within the global semiconductor sector. The government has sanctioned five semiconductor projects and has lent support to 16 semiconductor design firms under this initiative. These efforts are anticipated to draw a total investment of Rs 1.52 lakh crore.
These projects are projected to create approximately 25,000 direct jobs in advanced technology and an additional 60,000 indirect jobs, representing a considerable achievement in enhancing India's technological workforce.
The initiative aims to offer appealing incentives to enterprises involved in semiconductor packaging and design, with the objective of establishing India as a worldwide center for semiconductor and display manufacturing.
The success narrative extends to the larger electronics manufacturing sector as well. Under the Production-Linked Incentive (PLI) Scheme for electronics, India has achieved production totaling Rs 6.14 lakh crore and exports reaching Rs 3.12 lakh crore. This has resulted in the generation of over 1.28 lakh direct jobs in the sector, further reinforcing India’s status as a global electronics manufacturing giant.
The Ministry further highlighted that advancements in Convergence, Communications, and Broadband Technologies (CC&BT) will be crucial in realizing the vision of a developed India, or Viksit Bharat, in the years to come.
With a solid policy framework and substantial investments, India's path to becoming a leader in electronics and semiconductor manufacturing is steadily gaining traction. As the nation embraces innovations in these vital technologies, it is well-positioned to make significant contributions to the global supply chain and stimulate economic growth, the statement concluded.
