Demand of semiconductors has increased rapidly over the years. India had announced incentives by the central government for manufacturing semecators. Electronics and Information Technology Minister, Ashwini Vaishnaw said on Wednesday that the first Made in India semiconductor can be introduced this year.

In the last financial year in the country, the import of semiconductors increased by about 18.5 percent to about Rs 1.71 lakh crore. Semiconductors are used in many industries like automobiles and smartphones. Vaishnav during the World Economic Forum Ndtv Told, “We can bring the first Made in India Semiconductor Chip this year.” He said that there has been a lot of progress on this front since the introduction of the Semiconductor Mission about three years ago. Vaishnav, who presided over the AI ​​mission of the country, said that the government is working on the next phase of the AI ​​mission. This includes designing indigenous AI models and AI chips in the country. He said that the government aims to implement the correct regulatory framework for artificial intelligence. In this, there will be a balance between innovation and regulation.

The government has taken measures to increase the manufacturing of semiconductors. This will reduce dependence on import. Some big business groups in the country have partnered with foreign companies to increase manufacturing of semiconductors. Recently, Tata Group tied up with American semiconductor manufacturer Analog devices. Tata Electronics, a Tata Group semiconductor -linked company, plans to invest $ 11 billion to build a laboratory in Dholera, Gujarat. The Adani Group has also tied-up to set up semiconductor plant in Maharashtra by the Tower Semiconductor of Israel. This project will invest about $ 10 billion.

Prime Minister Narendra Modi aims to make the country a big force in the semiconductor. The tension between the US and China may lead to a major change in the segment of semocarders. India, Singapore and Malaysia are expected to benefit from this. Large companies like AMD and NVIDIA have also created research and design centers in the country. The country’s semiconductor market is estimated to reach $ 63 billion by 2026.