Union Minister G.Kishan Reddy has stated that the newly-approved Semicon 2.0 and Mobile Phone Manufacturing Scheme (MPMS) will present vast employment opportunities as well as skill development opportunities for the youth of India especially in those states which want to build their capacity in the manufacturing of electronics and semiconductors.
These statements have been made after the Union Cabinet has approved these two flagship schemes which are meant to boost the technological infrastructure in India and lessen its import dependency.
The Semicon 2.0 scheme has been sanctioned with an investment of ₹1.27 lakh crore while the MPMS has been sanctioned with ₹62,500 crore. These schemes aim to facilitate investments in the fabrication, design, packaging, manufacturing, and production of semiconductors and mobile phones respectively.
There are six strategic pillars that are central to Semicon 2.0, which include chip design, manufacturing equipment and materials, fab facilities, semiconductor packaging, research & development, and talent building. It is expected that through Semicon 2.0 programme the government will create a deeper domestic semiconductor eco-system, while at the same time ensuring that there is a pipeline of professionals for the future.
According to industry experts, the cumulative effect of both Semicon 2.0 and MPMS is expected to be very significant in terms of helping boost India’s electronics industry and creating many employment opportunities for its youth over the coming years. The growing demand for semiconductors and electronic devices across the world is expected to help improve India’s standing within the global value chain.
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