On December 15, 2021, Union Cabinet approved a Rs 76,000-crore scheme for boosting semiconductor and display manufacturing in India.

Highlights

• This scheme was approved in order to position India as a global hub for hi-tech production, as well as to attract large chip makers.
• It would also strengthen India’s ambitions to be self-reliant in electronics manufacturing and bring huge investments.
• This move will generate 35,000 specialised jobs and indirect employment for one lakh people.

Significance of the semiconductor scheme

This move is significant because, in the present geopolitical scenario, trusted sources of semiconductors and displays have strategic importance. These are key to the security of critical information infrastructure. Furthermore, this scheme has been approved at a time when the world is witnessing a severe crunch of semiconductors, which is an important component of cars and electronic devices. Supply of semiconductors have disrupted due to pandemic.