The government is committed to supporting establishing the semiconductor industry in the country which will also help in reducing foreign exchange outflows, Union minister Piyush Goyal said on Thursday. The Commerce and Industry Minister’s remarks come days after Tata Group announced its intention to enter the semiconductor segment, amid significant shortage of semiconductors worldwide that has also started impacting various industries.
Speaking at an event organised by the commerce ministry, Goyal said creating the semiconductor industry and strengthening the shipping industry will help push the ‘Aatmanirbhar’ or self-reliance initiative of the government.
“There is a worldwide shortage of semiconductors and the government is very much focused on bringing the semiconductor industry to India… the government is committed to supporting both these sectors,” he said, specifying that the other sector to be supported is the shipping industry.
(Source: PTI)
