India has made significant strides in the semiconductor sector in the last two years, during which the government received investment proposals of ₹2.50 lakh crore from global chip makers, stated Union Minister Rajeev Chandrasekhar on Wednesday.
Over the last 10 years, India has moved out of the league of the 'Fragile Five' and become the world's fifth-largest economy, added the Minister of State for Electronics & Technology.
Speaking at the 'Viksit Bharat Ambassador Meet' organised in Pune, Chandrasekhar highlighted that India has become a source of inspiration for countries worldwide due to its inclusive policies.
"We have become a beacon of hope and inspiration for countries across the world in terms of our inclusive policies, in terms of how we transform governance and make governments work for people. In the next few years, the PM has set a target for India to become 'Viksit Bharat'," he said.
Speaking to reporters on the sidelines of the event, Chandrasekhar mentioned that in 2022, Prime Minister Narendra Modi announced a semiconductor policy that instantly attracted global attention.
"Today, investment proposals of more than ₹2.50 lakh crore have been received by the Government of India from global semiconductor majors. India is fast becoming a semiconductor nation. Just two years ago, it was not even present in the semiconductor ecosystem of the world," the minister stated.
