New Delhi. The Central Government has approved many important decisions with the aim of accelerating industrial development, modern technology, investment and employment in the country. In the Union Cabinet meeting chaired by Prime Minister Narendra Modi, major decisions related to semiconductor industry, mobile manufacturing, fertilizer production and infrastructure projects were taken. The government believes that these schemes will increase India’s production capacity, attract foreign investment and create new opportunities for millions of people.
1. New momentum to semiconductor mission
The Cabinet has approved SEMICON 2.0 program to strengthen the semiconductor sector. Under this scheme, an investment target of approximately Rs 1.27 lakh crore has been set. Its objective is to make India not just a chip importing country, but global recognition in the field of chip design and manufacturing.
2. Chip design and research will get a boost
Under the new policy, there will be an emphasis on providing modern technology and research facilities to chip designing startups, MSMEs and research institutes in the country. The government aims to develop new generation chips domestically so as to reduce dependence on foreign technology. This will boost innovation and open new opportunities for Indian engineers and technology companies.
3. Preparation to increase fertilizer production
Keeping the agriculture sector in mind, the government has taken many important decisions related to urea production. New urea plants will be promoted by the year 2031 through the new investment policy. Also, plans have been made to convert old plants to more energy efficient and low-cost technology. The objective of this initiative is to increase domestic production, reduce dependence on imports and provide timely fertilizers to farmers.
4. Mobile manufacturing will get new support
The Cabinet has also approved PLI 2.0 scheme to promote the mobile manufacturing sector. Through this scheme, the government wants more and more companies to set up production units in India. If investment increases, the electronics industry will expand, exports will increase and a large number of employment opportunities can be created in the manufacturing sector.
5. New opportunities for skills and employment for youth
The focus of the government is not limited only to setting up industries but also to prepare trained human resources for those industries. Students are being trained in chip design and modern electronics technology in many universities of the country. In the coming time, special training programs will also be run in areas like semiconductor fab, clean room operation, chip manufacturing and testing, which will increase the chances of youth getting employment in the high-tech sector.
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