In a major boost to chip manufacturing and designing, the Centre plans to pump $10 billion into facilities in Gujarat and Uttar Pradesh, where a consortium of firms have come up as production bases. The new push is part of India’s plan to meet a growing domestic demand and reduce imports in the next few years.
A dedicated Electronics Development Fund had been created to leverage the use of venture capital funds to promote more start-ups in the country, he added.
Infrastructure for chip manufacturing and designing will be considerably strengthened in India to cater to the growing domestic demand and to cut down the imports in the next few years, he said.
Sharma said India provided an exciting hub for electronics investment mainly on account of the surging domestic market and infrastructure, logistics and financial support being provided to the investors, whether they are from India or abroad.
He mentioned that Make in India coupled with Digital India program initiated recently by the government, can renew the interest in electronics production in the country and achieve the target set for zero import of electronics into the country by 2020.