“I can safely tell you that the names that you mentioned have submitted these big, very credible, very significant investment proposals. There are other announced proposals by Tata as well in the fab. We see this happening in a very, very quick short term,” Chandrasekhar said.
The government has received four proposals for setting up semiconductor manufacturing plants and 13 for chip assembly, testing, monitoring and packaging (ATMP) units.
The proposals are in addition to a Rs 22,516-crore chip assembly plant being set up by US-based memory chip maker Micron in Gujarat.
The minister said India’s semiconductor story is very akin to that of electronics in the country.
He said that the government before 2014, the UPA government, ignored electronics and for 75 years, India was a “classic case of missed opportunity” in semiconductors.
“In 2012 Intel wanted to set up a plant here, and they found no support and they walked away. When the prime minister launched this (semiconductor) program in 2020 January, we knew we had to work very fast, and smartly and we had to in essence play catch up for the last 75 years of lost opportunity.
“We have made significant progress in a broad spectrum of areas: semiconductor design, startups, research, talent, packaging and fabrication,” Chandrasekhar said.
According to government data, domestic electronics manufacturing increased over four-fold to Rs 8.22 lakh crore in the last 10 years.
In FY 2013-14, electronics manufacturing was Rs 1,80,454 crore (USD 29.8 billion) and has grown significantly to Rs 8,22,350 crore (USD 102 billion) in FY 2022-23, which is further expected to grow up to Rs 23,95,195 crore (USD 300 billion) by 2026.
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