Government Will Support Establishing Semiconductor Industry in India: Goyal

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  • This comes after Tata Group announced its intention to enter the semiconductor segment, amid significant shortage of semiconductors worldwide that has also started impacting various industries
  • He added that there is a worldwide shortage of semiconductors and the government is very much focused on bringing the semiconductor industry to India

The government is committed to supporting establishing the semiconductor industry in the country which will also help in reducing foreign exchange outflows said Union minister Piyush Goyal. This move comes after Tata Group announced its intention to enter the semiconductor segment.

Goyal said creating the semiconductor industry and strengthening the shipping industry will help push the ‘Aatmanirbhar’ or self-reliance initiative of the government. He added that there is a worldwide shortage of semiconductors and the government is very much focused on bringing the semiconductor industry to India.

Last week, Tata Sons Chairman N Chandrasekaran announced that the conglomerate is mulling manufacturing the critical components in the semiconductor industry. Chandrasekaran explained that alterations to the global supply chains. They are heavily dependent on China, in the aftermath of the pandemic and geopolitical changes, will make businesses shift their reliance on other countries and called this a huge opportunity for India, which becomes the second base.

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