Following a tweet from Intel Foundry Services president, who congratulated the minister on the nation’s efforts to encourage the design and manufacturing of semiconductors in India, the Indian Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, welcomed the company.
For those who are not aware, the Union Cabinet, led by Prime Minister Narendra Modi, approved a budget of Rs 76,000 crores earlier this month to provide incentives to companies that design and manufacture semiconductor chips in the country.
As part of her response, Vaishnaw congratulated Intel Foundry Services president Randhir Thakur, who wrote on Twitter, “Congratulations to @GoI MeitY @AshwiniVaishnaw @Rajeev GoI for Semiconductor Design & Manufacturing Incentives for India as a hub for electronics and semiconductors.” “It’s encouraging to see a plan in place for every aspect of the supply chain, including talent, design, manufacturing, testing, packaging, and logistics.”
Intel – welcome to India. https://t.co/1Wy90HfAjy
“Intel – welcome to India,” Vaishnaw tweeted in response to the announcement.
The announcement of the approval of the semiconductor-incentive budget included Vaishnaw stating that the government of Prime Minister Narendra Modi wants to develop a complete semiconductor ecosystem in the country that would include design fabrication, testing, and packaging. This would require an investment of Rs 76,000 crores, he added.
“Today, we have reached $75 billion (roughly Rs. 5,61,306 crore) in electronics manufacturing in just seven years,” he had stated previously. With the current rate of progress, we will reach $300 billion (roughly Rs. 22,45,240 crore) in electronics manufacturing within the next six years.”
In light of the enormous undertaking that it would be, it doesn’t appear that Intel will be setting up a manufacturing plant in India anytime soon. Instead, the company is concentrating its efforts on constructing an ultramodern manufacturing facility in Arizona, where it has invested more than $20 billion so far. If it does, however, it has the potential to catapult India’s IT manufacturing dream to even greater heights.