Sanjay Gupta, Managing Director, NXP India, on the approval of PLI Scheme for Semiconductors added, “The approval of Rs 76,000-Cr Product-Linked Incentive (PLI) scheme for Semiconductors under which Rs. 2.3 Lakh crore of incentives will be given is a welcome move. This will enable India to become an electronics hub and encourage corporates to start manufacturing in India. It is a big step to bring India on the world map of the semiconductors industry as it will pave the path for the industry to broader the horizon of research, manufacturing and export. In the long-term issues like sudden surge in demand of semiconductors will also be addressed. This move will also make the Indian manufacturers globally competitive to attract investment in the areas of core competency and cutting-edge technology.”
Commenting on the initiative, K Krishna Moorthy, CEO & President, IESA, India’s leading industry association for ESDM (Electronics System Design and Manufacturing) sector said, “The semiconductor manufacturings policy and the related incentives announced today by the Government of India is the most significant and visionary announcement made for the semiconductor industry ever. It addresses almost all facets of the industry – be it design. Wafer manufacturing, ATMP or Compound Semi fab. We feel that it comes at an opportune time, with credits to MeitY for incorporaing industry inputs from IESA. The cascading effect this policy announcement will make will be huge and I am sure India will grow to a Semiconductor leader of the world, not only in design but also in manufacturing in the coming years.
Rajeev Khushu, Chairman, IESA, added saying, “IESA congratulates MeitY and GoI for this bold step in making India a hub for semiconductor design and manufacturing. We thank MeitY for their relentless work and for being open to and accepting industry recommendations from IESA. I am sure not only will the global players be able to utilize the incentives to establish their base of manufacturing in India but many of our home-grown players will be able to utilize this opportunity. Semiconductors will become a trillion-dollar opportunity in the coming decade and the proactive steps taken by Govt of India will go in a long way to make India the super-power of semiconductor design and manufacturing.” He added, “Design-linked incentives will act as a catalyst to the already thriving semiconductor design activity in the country. We will see the design ecosystem going to the next level from both the design and product definition perspectives. The Indian semiconductor Mission is a game-changer like that of ISRO to space technology for the country. It will do the same in the area of ESDM. USD 30 BILLION is a great start and I am sure we are going to leapfrog in the field of the semiconductor industry with the cabinet decision.”
