India’s government is focusing on creating a semiconductor ecosystem that will support India’s rapid expansion in electronics manufacturing and innovation. The Ministry of Electronics and Information Technology (MeitY), approved a Rs 76,000 crore financial outlay for the development of our nation’s semiconductor and display manufacturing industry. India Semiconductor Mission, an independent business division with financial and administrative autonomy was also created. Now, the government is looking for a CEO to oversee the mission. For More Updates Stay Tuned With Moneycompanion.us.
Rajeev Chandrasekhar, Union Minister of State, MeitY, stated to Business Today, “The most important step in that process is the hiring the CEO of India Semiconductor Mission.” That process is already underway. This will be done in an open and transparent manner, as well as institutionally. It will not be driven by the opinions of one or two people. An advisory board has been established for ISM, which includes some of the most respected minds. This will help to activate the ISM. The ISM and advisory boards will then meet, and the process for evaluating the proposals received and those that are forthcoming will begin.
The ISM’s CEO must be an expert in semiconductor design. He or she will have to formulate a long-term strategy that develops semiconductors and display manufacturing facilities in India. This will be done in consultation with government ministries and departments. Rajeev Khushu, chairman of India Electronics and Semiconductor Associations (IESA), stated that he supports the government’s decision.
“The first step in establishing a mission head is to identify a person. The government will then want the head to lead the mission. This makes perfect sense. The government has already interviewed veterans and industry experts from around the globe, including India, to help them choose the right head. Khushu stated that the government is in the final stages of selecting the CEO of ISM.
According to information, the ministry wanted a person who had more than 25 years experience in the semiconductor industry as well as more than 10 years at the global level to be the CEO of ISM. Industry experts agree that ISM’s CEO should be from the fab. However, there are some who prefer a different approach. Satya Gupta, a veteran industry expert, says that the person who set up the fab will run the fab. The job of the ISM CEO is to ensure that the fab is set up is a success. The CEO must be familiar with the fab ecosystem and should know how to make the fab business successful. The CEO must be involved in the ecosystem, including convincing customers and creating the infrastructure necessary to make fabs succeed in India.
ISM will promote the display and semiconductor industries in a more structured, focused and comprehensive way. Its task is to encourage the adoption of trusted electronics by ensuring secure supply chains for semiconductors and display materials. This includes raw materials, speciality chemicals and gases. It will also help to facilitate a multifold growth in India’s semiconductor design industry through providing support in the form Electronic Design Automation (EDA), foundry services, and other suitable mechanisms for startups at early stages. This will enable collaborations and partnership programs between national and international institutions, agencies, and industries for collaborative research, commercialization, and skill development.