Karnataka to become the hub of Indian fabless start-ups: C N Ashwatha Narayana
Bengaluru: The government aims to make Karnataka the hub around which the next breed of Indian fabless startups can thrive and along with IESA (Indian Electronics & Semiconductor Association) will propel the ESDM sector and support innovative domestic companies, C N Ashwatha Narayana, the Minister for Electronics, IT/BT and S&T, stated on Thursday.
Speaking through an online platform on the topic ‘India’s Accelerated ESDM Growth – The Defining Decade’ in the 16th edition of IESA Vision Summit- 2021, he told, ESDM sector in India which is predicted to expand at a 16.1% CAGR presents a golden opportunity for Industries to Make In India for the world and fulfill the Atma Nirbhar Bharath initiatives.
“ESDM (Electronic System Design & Manufacturing) sector in the country which is predicted to reach ~US$ 220 billion by 2025 has the potential to create 1,000 start-ups, 10,000 IPs (Intellectual Properties), and 10 lakh jobs,” the Minister Said.
Electronics production has the potential to generate around 1Cr jobs by 2050. Numerous domains and sectors in India such as Agritech, Medical devices, telemedicine, Industry 4.0, Consumer electronics, Space & Defense are dependent on the way Indian Electronics Industry flourishes,” ESDM sector has the potential to generate 1 crore jobs by 2050 explained.
He further said the Electronics market size in India is US$ 300+ Bn and the nation’s share in the global electronics manufacturing has been consistently growing since in 2012 (from around 1.3% in 2012 to around 3% in 2018).
“Though at present, India has more than 100 Semiconductor Design services companies offering design of semiconductor to its global customers, it needs to go still further to become self-sufficient in designing and manufacturing Semiconductors,” said C N Ashwatha Narayana
He added, that to give a push to this, GoI is working on many policy initiatives and expressed confidence, there will be a thrust for the manufacturing of Silicon and Compound Semiconductor Chips in the country.
The state government with the intention of creating a suitable ecosystem has sector-specific policies including Engineering R& D policy, KDEM, Beyond Bengaluru among others, the Minister told.
Rajeev Chandrashekar, Minister of State for Electronics & IT, GoI, Som Prakash, Minister of State, Industries & Commerce, Atul Lall, Vice-chairman & MD, Dixon, Gautam Reddy, Minister for Industries, Govt. of Andhra Pradesh were the speakers.