The government has started working on the second phase of the semiconductor policy, Semicon 2.0, which is expected to be in place in 3-4 months, Union Minister Ashwini Vaishnaw said on Wednesday.
Speaking at SEMICON India 2024, the minister said 3-4 states have attracted semiconductor investments, and one unit will soon come up in Uttar Pradesh.
“We are now at a stage when first stage of semicon project is completed. Now we are formulating Semicon 2.0 which will be an expanded form of Semicon 1.0. It will take us 3-4 months to put it in place,” Vaishnaw said.
Earlier, Prime Minister Narendra Modi had said that resilience of supply chains is critical for the economy as he made a pitch to boost investments in domestic manufacturing of semiconductors — the foundation of everything from smartphone to EV and AI.
Speaking at the SEMICON 2024 conference on the outskirts of the national capital, the Prime Minister said the Covid pandemic showed the importance of the supply chain and underscored the need to act to ward off any disruption.
“Resilience of the supply chain is very important,” he said. “India is working to create the same in different sectors of the economy.”
The world witnessed supply shocks during Covid-19, as stringent measures to control the spread of pandemic in China affected the industries and sectors dependent on imports from that country. One of the sectors impacted was chips that form a critical part of every electronic device.
Prime Minister showcased India’s reformist regime, stable policies and a market that has tasted technology to make a strong pitch for investments in semiconductor manufacturing.