The United States’ push to reduce its dependence on Chinese semiconductors is fueling a race to capitalize on shifting supply chains in the chipmaking industry
In September 2022, the Vedanta group signed an MoU with the Gujarat government to set up a semiconductor fabrication unit in the state. The unit will be set up as part of a joint venture between Vedanta and Taiwanese Foxconn. The company is also expected to set up a display fabrication unit in the country.
The Economic Survey says that the major drivers of growth in the electronics industry are mobile phones, consumer electronics, and industrial electronics.
The survey sees potential of production linked incentive schemes in supporting domestic players to achieve economies of scale in manufacturing facilities.