A few days ago, Union Telecom and Information Technology Minister Ravi Shankar Prasad said that the government was determined to make India the world’s largest manufacturer of smartphones and electronics products. As a complement to this plan, the government introduced the PLI or Production Linked Investment Scheme – that is what Ravi Shankar specifically mentioned at the time. But this time, the Indian government took some more steps to emphasize the production of electronic chips and semiconductors in the country. India’s Ministry of Electronics and Information Technology (MeitY) has recently called on various companies to come forward to implement the plan. The ministry has even announced special subsidies to expedite the manufacture of electronic chips. Last but not least, MeitY has advised companies to consider acquiring foreign semiconductor manufacturers if necessary. What exactly is MeitY thinking? Let us know the details about this.
In fact, in order to rise to the top as a producer of smartphones and electronics products, the facilities of wafer / device fabrication in the country need to be further improved. This requires the cooperation and investment of large semiconductor manufacturers who will build numerous electronic chip plants across the country. So MEITY has called for investors in their EoI (Expression of Interest) proposal as well as providing all kinds of benefits including subsidies. It is to be noted that the interested investors have to submit a proposal to the government by January 31, 2021.
In fact, in parallel with the digital revolution, a number of semiconductor plants are needed across the country to compete with a country like China in the production of electronic products. Only if this is possible will we be able to emerge as the world’s leading supplier of mobile, IT hardware, automotive electronics, industrial electronics, medical electronics, IoT and other products. As a result, by 2025, we will emerge as an electronics manufacturer worth about মিল 400 million, the Union Ministry has claimed.
Please be informed that earlier in 2013, the government had given clearance to two semiconductor units which promised to invest around Rs 63,000 crore. However, the plan was not implemented due to lack of proper infrastructure and policy linked market services for electronics production in the country. The government has announced a PLI scheme to forget all the shortcomings in this regard. This scheme will help in the production and improvement of electronic chips and semiconductors in the coming days. For this, the government has announced a huge budget of Tk 3,275 crore. The outline for the next 6 years is almost ready, although so far no organization has shown much interest in it!