Ashwini Vaishnaw, Indian Union Minister for Electronics and Information Technology, welcomed Intel after Intel Foundry Services president, in a tweet, congratulated the minister on the nation’s effort to encourage semiconductor design and manufacturing in India.
To those who are unaware, 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 designing and manufacturing semiconductor chips in India.
Vaishnaw’s response was to Intel’s Foundry Services president, Randhir Thakur, who said via a tweet, “Congrats to @GoI_MeitY @AshwiniVaishnaw @Rajeev_GoI for Semiconductor design & manufacturing incentives for India as a hub for electronics & semiconductors. Glad to see a plan laid out for all aspects of the supply chain: talent, design, manufacturing, test, packaging & logistics.”
Vaishnaw retweeted while stating, “Intel – welcome to India”.
During the announcement of the approval of the semiconductor-incentive budget, Vaishnaw stated that PM Modi wants to develop a complete ecosystem in the nation, including design fabrication, testing and packaging, which would require an investment of Rs 76,000 crores.
He had said, “Today we have reached $75 billion (roughly Rs. 5,61,306 crore) in electronics manufacturing in 7 years. With the pace that we are moving at, in the next six years, we will reach $300 billion (roughly Rs. 22,45,240 crore) in electronics manufacturing.”
Intel does not appear to be planning to establish a manufacturing plant in India anytime soon, given the magnitude of the undertaking, and for the time being, it is concentrating on establishing its state-of-the-art manufacturing facility in Arizona, the United States, where it has spent more than $20 billion. However, if it succeeds, it will undoubtedly propel India’s IT manufacturing dream to new heights.
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