Government to boost high-technology manufacturing
In a move to boost high-technology manufacturing, including semiconductors in the country, the government has decided to set up a committee to facilitate investments.
The committee will consider investment and project proposals in high-technology areas, take action to facilitate investments and production and make recommendations to seek approvals of the competent authority, an official statement said.
“In order to facilitate investments and promote manufacturing in technology-intensive sectors, including semiconductors, the government of India has decided to constitute an empowered committee for manufacturing in high-technology areas,” it said.
The minister of commerce and industry will be the chairperson of the 10-member committee. The panel will include Tata Sons chairman N. Chandrasekaran; Bharat Forge chairman Baba Kalyani; Mahindra Group managing director and CEO Pawan Goenka; Zoho Corporation CEO Sridhar Vembu; and Anshuman Tripathi, a semiconductor domain expert.
The detailed terms of reference of the committee will be notified in due course, it said.
The largest producers of semiconductors are the United States, South Korea and Japan and is estimated to be a trillion-dollar electronics industry globally and expanding further with increasing penetration of robotics, AI and IoT.
“The secretaries in the department of economic affairs, department of revenue, department of expenditure and sponsoring ministry/department may be invited to participate in the meetings of the empowered committee, as required,” the release said, adding that the committee will be serviced by the department for promotion of industry and internal trade.