Brief by Shorts91 Newsdesk / 04:23pm on 09 Mar 2024,Saturday Tech Today
India's Ministry of Electronics & IT considers increasing funding for the Indian Semiconductor Mission (ISM) scheme, currently set at ₹76,000 crore, to bolster semiconductor manufacturing. Secretary S Krishnan mentions the need for additional funding if the ISM exhausts its funds. The government aims to establish 2-3 semiconductor fabrication units over the next 2-3 years, with recent Cabinet approvals for additional units, including Tata Group's collaboration with Powerchip Semiconductor Manufacturing Corporation. These initiatives aim to create a robust semiconductor ecosystem, challenging China and Taiwan's dominance, while generating significant employment opportunities.
