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Will work towards fulfilling PM Modi's semiconductor initiatives: Minister Kumaraswamy

Will work towards fulfilling PM Modi's semiconductor initiatives: Minister Kumaraswamy
Union Heavy Industries and Steel Minister, H.D. Kumaraswamy, on Saturday, said semiconductor is a strategic industry and he will work towards fulfilling Prime Minister Narendra Modi’s initiatives...

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Union Heavy Industries and Steel Minister, H.D. Kumaraswamy, has pledged to support Prime Minister Narendra Modi's semiconductor initiatives, emphasizing the importance of the semiconductor industry in generating jobs. Kumaraswamy expressed his commitment to fulfilling these initiatives through his ministry, acknowledging the significance of semiconductors in electronics and automobile manufacturing. Former Union Minister Rajeev Chandrasekhar also highlighted the critical role of capital support for strategic sectors like semiconductors in India's global tech manufacturing presence. With the BJP-led NDA government focusing on electronics, microelectronics manufacturing, semiconductors, AI, automotive, and EVs, India aims to become one of the largest semiconductor hubs in the world. PM Modi's recent foundation stone laying for semiconductor plants worth over Rs 1.25 lakh crore reflects India's ambition to become a trillion-dollar digital economy by 2030. Furthermore, India's semiconductor-related market is projected to reach $64 billion in 2026, nearly triple the size in 2019, according to Counterpoint Research.

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