97% of the Chip Manufacturing Fund is Committed by the Government: Report

According to reports, the government has allocated approximately INR 62,900 Cr, or nearly 97% of the INR 65,000 Cr, for incentives related to semiconductor manufacturing. Only minor projects can be funded with the remaining monies, according to a PTI article that quoted Electronics and IT Secretary S Krishnan. He added that INR 65,000 Cr was set aside for chip manufacturing, INR 10,000 Cr for the modernization of the Semiconductor Laboratory in Mohali, and INR 1,000 Cr for the design-linked incentive program under the INR 76,000 Cr India Semiconductor Mission.

This follows reports that Jitin Prasada, the Minister of State for Electronics and Information Technology, stated that the nation's first indigenous chip would be released by the end of this year. According to an ANI report, the minister stated that the first packaged chip would be available by December 2025. Prasada He went on to say that the government has mapped out a plan for India to become a worldwide center for chips, incorporating every step of the supply chain, from design and assembly/testing to imports and production.During his speech at the World Economic Forum in Davos in January, Union Minister Ashwini Vaishnaw presented the idea for a "Made in India" chip, highlighting the nation's goal of releasing its first chip by the end of the year.