PM Modi’s big announcement on semiconductor: ‘Made-in-India semiconductor chip to be launched this year’

New Delhi:

Talking about India’s rapid strides in the semiconductor sector, Prime Minister Narendra Modi announced on Friday that the first made-in-India semiconductor chip will be launched in the market by the end of this year. Addressing the nation on the 79th Independence Day, the Prime Minister said that the government is working in “mission mode”. Terming the 21st century a “technology-driven century”, he said that six semiconductor units are already on the ground and four new units have been given the green signal.

“We broke free from that burden and took the semiconductor initiative forward in mission mode…To the youth of the nation and to those around the world who understand India’s technological strength, I want to say this: by the end of this very year, ‘Made-in-India’ chips will be available in the market,” he said.

Idea of semiconductor was killed in the womb 50–60 years ago

The Prime Minister said that the idea of setting up semiconductor manufacturing plants was first discussed five to six decades ago, but the idea was killed in the womb.

“My young friends, you’ll be surprised to know that the concept of semiconductors–which has now become a global power–was stuck in files 50-60 years ago. The idea of semiconductors was practically aborted in its infancy. We lost 50-60 precious years. Meanwhile, several other countries have mastered semiconductors and are now establishing their dominance globally,” PM Modi said.

Cabinet approves semiconductor units in three states

Earlier this week, the Union Cabinet approved semiconductor units in three states.

The Cabinet has approved four semiconductor plants, including a unit backed by US technology major Intel and Lockheed Martin, entailing a total investment of Rs 4,594 crore in three states.

“Today’s Cabinet decision relating to approval of semiconductor units in Andhra Pradesh, Odisha and Punjab will boost manufacturing capacity, create high-skilled jobs and position India as a key player in the global supply chain,” PM Modi said in a post.

Viksit Bharat Rozgar Yojna

He also announced the launch of the Pradhan Mantri Viksit Bharat Rojgar Yojana and stated that the Rs 1 lakh crore mega employment initiative will take effect immediately. The scheme aims to create job opportunities for nearly 3.5 crore young people across the country.

GST reforms after 8 years

He also announced that the next generation of GST reforms will be introduced this Diwali. The upcoming reforms are being positioned as a Diwali bonanza, a gift for the people, traders, industries, and MSMEs.