Amit Shah: India to become a major player in semiconductor market in 10 years: Union Minister Amit Shah

India will become a major player in the global semiconductor market in the next 10 years, Home Minister Amit Shah said on Tuesday.

“I can say with full confidence that in the next 10 years, India will become a very important player in the semiconductor market,” Shah said at a press conference to mark the completion of 100 days of the Narendra Modi government’s third term.

He pointed to the semiconductor integrated circuit factory being built in Sanand, Gujarat.

US chipmaker Micron is building a chip assembly and testing facility in Sanand at an investment of $2.7 billion, making it one of the first major projects to take off under the Rs 76,000 crore India Semiconductor Mission. The facility is expected to churn out its first made-in-India chips by the end of the year.Earlier this month, the government also approved Kaynes Semiconductor’s proposal to set up a Rs 33 billion plant in Sanand.

Shah added that many countries are also keen to understand India’s initiatives under the Digital India programme and take similar steps.

He also highlighted the abolition of the 31 percent tax on business angels in the 2024 budget, which aims to support startups and encourage innovation.

Shah added that India celebrated “National Space Day” for the first time on August 23 to generate interest among youth in this field.

“Many initiatives have been taken to support and nurture space startups, such as the Rs 1,000-crore venture capital fund,” he said, referring to the budget announcement aimed at fostering innovation and developing the space economy.

He added that over the next five years, 5,000 people will be trained as “cyber commandos” and a register of cybercriminals will be created.