Intel was welcomed by Indian Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, after Intel Foundry Services president, in a tweet, congratulated the minister over the nation’s endeavour to encourage designing and manufacturing of semiconductors in India.
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To the unaware, earlier this month, the Union Cabinet led by Prime Minister Narendra Modi has approved a budget of Rs 76,000 crores for offering 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.”
Intel – welcome to India. https://t.co/1Wy90HfAjy
— Ashwini Vaishnaw (@AshwiniVaishnaw) December 28, 2021
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.
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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.”
It doesn’t look like Intel is looking to set up a manufacturing plant in India anytime soon, considering it’s a massive endeavour, and as of now it’s focussing on setting up its state-of-the-art manufacturing facility in Arizona, the US where it has spent over $20 billion. However, if it does, it could surely take India’s IT manufacturing dream to newer heights.
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