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Indian Economy - Understanding the basics of Indian economic system

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Which of the following statements regarding semiconductor industry in India is/are correct?

India imports most of its semiconductors.
To become self-sufficient in semiconductors, India started an India Semiconductor Mission (ISM), a centrally sponsored scheme under union Ministry of Science and Technology (MST).
Under ISM, only Semiconductor Assembly, Testing, Marking, and Packaging (ATMP) facilities will be set up in India while chip and display fabrication and semiconductor designing will be outsourced to companies in other countries.

1&2 only

1 only

2&3 only

3 only

Explanation:

Only statement 1st is correct.

In December 2021, India announced its roughly $10 billion dollar production-linked incentive (PLI) scheme to encourage semiconductor and display manufacturing in the country. It also announced fiscal support for a design-linked initiative (DLI) scheme to drive global and domestic investment related to design software, IP rights etc.
According to the Electronics and IT Ministry, semiconductor demand in India would increase to $70-$80 billion by 2026 with the growing demand for digital devices and electronic products.

India Semiconductor Mission (ISM) Components:

Scheme for establishing Semiconductor Fabs in India
Scheme for establishing Display Fabs in India
Compound Semiconductors/Silicon Photonics/Sensors Fab and Semiconductor Assembly, Testing, Marking, and Packaging (ATMP) / OSAT facilities in India
Scheme for Design Linked Incentive (DLI)

Hence option 2nd is correct.

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