India’s market for smartphones is expanding quickly and might soon overtake China. India is now the world’s second-largest smartphone market, thanks to a boom in manufacturing facilities and rising smartphone demand. In order to facilitate this expansion, the government is moving quickly to create chip manufacturing facilities domestically. China and the United States now control the majority of the semiconductor market.
The market boom for smartphones is expected to continue to pick up steam. Together with the Department of Telecommunications (DoT), the Ministry of Electronics and Information Technology (MeitY) has created a strategy to significantly expand the smartphone market in India. The government hopes to boost domestic chip manufacturing via the Atmanirbhar Bharat Yojana, which should have a big impact on the smartphone sector.
MeitY Secretary S. Krishnan recently emphasized the importance of chipsets in relation to mobile operating systems in India during a conversation at an media event. He emphasized that the Design-Linked Incentive Scheme, the India Semiconductor Mission, and Atmanirbhar Bharat will all be crucial to this advancement. A dedication to concentrating on semiconductors is also evident in the most recent budget.
The Semiconductor Mission currently has a budget of Rs 7,000 crore, an impressive 83 percent increase from the previous year. A 55 percent increase in funding, or Rs 9,000 crore, has also been made to the Production Linked Initiative Scheme. China, on the other hand, has a budget for semiconductors of about 47 billion dollars, or about Rs 4 lakh crore. The growth of AI in India is also expected to be fueled by advancements in semiconductors, as these components will improve AI applications, which will be important in many future industries.
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