India now key semiconductor player, Rs 2.50 lakh cr investment proposals received: Union Minister

Speaking at the 'Viksit Bharat Ambassador Meet' organised in Pune, Union Minister of State for Electronics & Technology Rajeev Chandrashekhar said in the last 10 years, India has moved out of the league of 'Fragile Five' and become the world's fifth largest economy.

Pune: India has made significant strides in the semiconductor sector in the last two years and during this period, Rs 2.50 lakh crore worth of investment proposals have been received by the government from global chip makers, said Union Minister of State for Electronics & Technology Rajeev Chandrasekhar on Wednesday.

He said India has become a source of inspiration for countries across the world in terms of its inclusive policies.

Speaking at the 'Viksit Bharat Ambassador Meet' organised in Pune, Chandrashekhar said in the last 10 years, India has moved out of the league of 'Fragile Five' and become the world's fifth largest economy.

"We have become a beacon of hope and inspiration for countries across the world in terms of our inclusive policies, in terms of how you transform governance and make governments work for people. In the next few years, the Prime Minister has set a target for India to become 'Viksit Bharat," he said.

Talking to reporters on the sidelines of the event, Chandrasekhar said in 2022 Prime Minister Narendra Modi announced a semiconductor policy and it instantly attracted global attention.

"Today, more than Rs 2.50 lakh crore worth of investment proposals have been received by the Government of India from global semiconductor majors. India is fast becoming a semiconductor nation. Just two years ago, it was not even present in the semiconductor ecosystem of the world," the minister stated.