President of Intel Foundry Services Randhir Thakur took to Twitter to praise the government’s efforts for rolling out specific plans and incentives to convert India into a manufacturing hub for electronics and semiconductors. While neither Thakur nor Intel announced any plans officially to start making chips in India, IT Minister Ashwini Vaishnaw “welcomed” Intel to India.
“Glad to see a plan laid out for all aspects of the supply chain: talent, design, manufacturing, test, packaging & logistics,” said Thakur. Responding to this, the IT minister said, “Intel – welcome to India.”
Talking about the “plan”, the government recently approved a budget of Rs 76,000 crore for designing and making semiconductor chips in India.
When this announcement was made, Vaishnaw had said, “Prime Minister Narendra Modi has taken a historic decision in the field of electronics in which the development of a complete ecosystem could take place within the country including design, fabrication, testing and packaging. It would take investment of Rs 76,000 crore. Today we have reached USD75 billion in electronics manufacturing in 7 years. With the pace that we are moving at, in the next 6 years, we will reach USD300 billion in electronics manufacturing.”