IT Minister Welcomes Intel To Make Chips In India, After ?76,000 Crore Budget Approval

Intel was welcomed by Indian Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, after Intel Foundry Services president, in a tweet, congratulated the minister over the nation¡¯s endeavour to encourage designing and manufacturing of semiconductors in India.

PTI

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To the unaware, earlier this month, the Union Cabinet led by Prime Minister Narendra Modi has approved a budget of Rs 76,000 crores for offering incentives to companies designing and manufacturing semiconductor chips in India.

Vaishnaw¡¯s response was to Intel¡¯s Foundry Services president, Randhir Thakur, who said via a tweet, ¡°Congrats to @GoI_MeitY @AshwiniVaishnaw @Rajeev_GoI for Semiconductor design & manufacturing incentives for India as a hub for electronics & semiconductors. Glad to see a plan laid out for all aspects of the supply chain: talent, design, manufacturing, test, packaging & logistics.¡±

Intel - welcome to India. https://t.co/1Wy90HfAjy

¡ª Ashwini Vaishnaw (@AshwiniVaishnaw) December 28, 2021

Vaishnaw retweeted while stating, ¡°Intel - welcome to India¡±.

During the announcement of the approval of the semiconductor-incentive budget, Vaishnaw stated that PM Modi wants to develop a complete ecosystem in the nation, including design fabrication, testing and packaging, which would require an investment of Rs 76,000 crores.

Intel

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He had said, ¡°Today we have reached $75 billion (roughly Rs. 5,61,306 crore) in electronics manufacturing in 7 years. With the pace that we are moving at, in the next six years, we will reach $300 billion (roughly Rs. 22,45,240 crore) in electronics manufacturing.¡±

It doesn¡¯t look like Intel is looking to set up a manufacturing plant in India anytime soon, considering it's a massive endeavour, and as of now it¡¯s focussing on setting up its state-of-the-art manufacturing facility in Arizona, the US where it has spent over $20 billion. However, if it does, it could surely take India¡¯s IT manufacturing dream to newer heights.

Can India become a superpower of semiconductor manufacturing? Let us know in the comments below, and keep reading Indiatimes.com for the latest science and technology news.