An expert panel has recommended the Ministry of Electronics and Information Technology (MeitY) to establish a semiconductor research centre on 20 October. The panel recommend an initial investment of USD 8 billion (Rs 66,500 crore) over the next five years.
The report suggests that the centre should be built as a global hub for semiconductor research. The proposed institution, called the India Semiconductor Research Center (ISRC), will focus on areas such as semiconductor processes, advanced silicon solutions, packaging R&D, compound/power semiconductor and chip design.
The panel also suggests upgrading the infrastructure at the Semi-Conductor Laboratory in Mohali to speed up R&D in the semiconductor space. The aim is to make India a leader in semiconductor research and innovation. The ISRC is expected to foster collaboration between industry, academia, and government and attract global companies to the country.
The Indian semiconductor market is projected to reach USD 55 billion by 2026 and the government is actively encouraging global semiconductor players to invest in India and support local manufacturing.
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