In the wake of recent budget announcements, the Indian government has once again demonstrated its commitment to bolstering the Electronics System Design & Manufacturing (ESDM) ecosystem. The budget allocation for semiconductors has seen a significant increase, nearly five times that of the previous year. This substantial investment underscores the government’s dedication to nurturing a robust semiconductor industry in India.
The increased focus on skilling and training is particularly noteworthy. As the semiconductor industry becomes increasingly complex, having a skilled workforce is essential for innovation and growth. Internship incentives also play a critical role in attracting young talent to the sector, ensuring that India has a steady pipeline of skilled professionals ready to drive the industry forward.
Moreover, the removal of the angel tax is a welcome move for startups and investors in the semiconductor space. This change is expected to encourage more investment in the industry, fostering an environment of innovation and entrepreneurship. By reducing the financial burden on investors, the government is making it easier for new companies to enter the market and contribute to the ecosystem’s growth.
We are inspired by this proactive approach and eager to collaborate in positioning India as a significant player in the global electronics and semiconductor industry. Also, we look forward to partnering with industry stakeholders. Our mission aligns with the government’s vision of making India a major hub for electronics and semiconductor manufacturing adds Bharath Desareddy, CEO of SmartSoC.
In conclusion, the recent budget announcements mark a significant step toward a brighter future for India’s semiconductor industry. The government’s continued investment and supportive policies provide a solid foundation for growth and innovation. With our strong presence in Bangalore, Hyderabad, and Hubli, and a global footprint spanning the USA, South Korea, Sweden, Malaysia, Israel, Canada, and Finland, we are well-positioned to contribute to the industry’s growth and innovation
