Positive response to government’s semiconductor initiatives: Ashwini Vaishnaw

Speaking at the IT industry grouping Nassom's strategic review press conference on Tuesday, Union Minister for Electronics and IT, Ashwini Vaishnaw, informed that the government semiconductor initiatives are receiving positive responses. The minister also encouraged the industry to increase the production of semiconductors. Ashwini Vaishnav said: "Very happy that within such a short time frame, the superb response has been received from the semiconductor industry participants. All these are new opportunities and I request industry participants to double down on your efforts, come up with more ideas, suggestions”. Earlier the government has sanctioned Rs. 76,000 crore for the development and manufacturing of semiconductors after the realization of semiconductors importance in various industries and to cut its dependency on foreign imports. Recently, Vedanta announced a pact with contract manufacturer Foxconn on the front of the semiconductor. In the past, the Tata Group has also evinced interest in the area.