Budget 2024: India Inc Demands Full Semiconductor Value Chain Push Beyond Chip Fabs

• Indian industry urges the government to expand its semiconductor focus beyond chip fabrication plants to encompass the entire value chain in the upcoming Union Budget.
• A Moneycontrol Mood of India Inc Survey reveals strong demand for a comprehensive, long-term policy framework for current and emerging semiconductor technologies.
• Corporate leaders emphasize the critical need to promote research and development for domestic companies and support global R&D services to reduce reliance on foreign IP.
• Industry seeks policies that holistically treat the semiconductor ecosystem, including equipment, materials, and chemicals, within the policy framework.
• There is a significant call for accelerating the development of globally competitive semiconductor manufacturing hubs with shared infrastructure and utilities.

Why It Matters: India Inc wants Budget 2024 to support the entire semiconductor value chain, not just chip fabs.