: India to cross 1 lakh crore mobile phone exports in 2023: MoS Rajeev Chandrasekhar #FinanceIndia #StockMarketNEWS India to cross 1 lakh crore mobile phone exports in 2023: MoS Rajeev Chandrasekhar

@StockMarketNEWS Mon 27 Feb, 2023

Posted in: #FinanceIndia #StockMarketNEWS

India to cross 1 lakh crore mobile phone exports in 2023: MoS Rajeev Chandrasekhar #FinanceIndia #StockMarketNEWS
India to cross 1 lakh crore mobile phone exports in 2023: MoS Rajeev Chandrasekhar New Delhi, Feb 25 (KNN) The year 2023 will be milestone for India as we will cross Rs 1 lakh crore in mobile phone exports this year, said minister of state for electronics and IT Rajeev Chandrasekhar said on Friday.

Speaking on the sidelines of the SemiconIndia Future Design Conference, the minister told PTI that the government expects to approve up to two applications this year to start building electronic chip manufacturing plants in the country.

As per reports, the government has received proposals from five companies for setting up electronic chip and display manufacturing plants with investments of Rs 1.53 lakh crore a year ago.

“The current situation of slowdown in the electronic chip business will not have any impact on Indias semiconductor programme as the impact is cyclical in nature but the programme has been conceived with long-term vision,” Chandrasekhar told PTI.

Vedanta Foxconn JV, IGSS Ventures and ISMC propose to set up electronic chip manufacturing plants with USD 13.6 billion investment and have sought support of USD 5.6 billion from the Centre under the Rs 76,000 crore Semicon India Programme.

The IT minister at the event facilitated the first three startups selected under the Design Linked Incentive scheme in the semiconductor space.

"We will expand the semiconductor design ecosystem which was only 2-3 companies a few years ago to a 100 startup by the end of the year. This is in my opinion our goal for 2023," he added.

He announced that a private industry-led research centre, "India Semiconductor Research Centre" (ISRC), will soon be launched and the semiconductor laboratory is being modernised and pivoted into a research fab and will be co-located with the ISRC.

The IT minister also announced the launch of the ChipIN Centre at C-DAC India, Bangalore which will act as one-stop centre to provide semiconductor design tools, fab access, virtual prototyping Hw lab access to fabless chip designers of the country. (KNN Bureau)