Syllabus: GS- III, Subject: Economy, Topic: Industry and Industrial Policy, Issue: Semiconductor Industry
Why in the news: Union cabinet approved three chip projects worth Rs 1.26 lakh crore.
Government incentive to boost semiconductor manufacturing:
- In 2021, the government launched a Rs. 76,000 crore chip incentive scheme.
- Plans to modernize the Semiconductor Laboratory with a Rs. 10,000 crore outlay.
Conclusion:
- A robust domestic ecosystem will reduce reliance on foreign sources and enhance supply chain security.
- The government offers fiscal and regulatory support but must ensure a stable policy environment for sustained growth.
