Union Minister Piyush Goyal said India is already looking beyond the current phase of its semiconductor programme, with SEMICON 3.0 expected to follow after the country completes its next round of investments.
Goyal said the government has approved SEMICON 2.0, under which the Centre has committed $13 billion. With investments from state governments and private companies, the programme is expected to help seed around $50 billion in the semiconductor ecosystem.
“Once SEMICON 2.0, we will come out with SEMICON 3.0,” Goyal said.
India has attracted investments worth $19 billion under SEMICON 1.0, according to Goyal.
The next phase is aimed at building on that investment momentum and expanding the country's semiconductor capabilities.
Goyal also highlighted India's broader ambitions in artificial intelligence, saying the country is working across the full AI stack, from models to computing infrastructure.
ALSO READ: New Firms May Invest In India To Make Memory Chips: Says Vaishnaw
“In an environment where AI is monopolized, India and Japan can come together to ensure its not,” Goyal said.
The minister's comments come as India looks to strengthen its position in semiconductors and emerging technologies, while reducing dependence on concentrated global supply chains.
The government has been using its semiconductor programme to attract investments into chip manufacturing and related infrastructure. Under SEMICON 2.0, the Centre's $13 billion commitment, along with contributions from states and private companies, is expected to take the overall investment push to around $50 billion.
Goyal indicated that SEMICON 3.0 will be the next step once the current phase is implemented, suggesting that India's semiconductor policy will continue to evolve as investments and manufacturing capabilities expand.
ALSO READ: Phones To Get More Expensive, Warns Nothing CEO Carl Pei As Memory Chip Costs Double
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.