The current investment expectation is at least $25 billion, according to the report quoting Rajeev Chandrasekhar, MoS for Electronics and Technology.
Changes to the Production Linked Incentives (PLI) scheme for semiconductor manufacturing were approved by Cabinet on Wednesday.
An outlay of Rs 76,000 crore (around $10 billion) was recently announced for the segment under the PLI scheme. The expenditure is for the development of a semiconductor and display manufacturing electronics ecosystem in the country.
A report by India Electronics & Semiconductor Association (IESA) and Counterpoint Research predicts that the semiconductor component market in the country will reach $300 billion in cumulative revenue by 2026.
PLI and Make in India are likely to boost local semi-component sourcing in the near future, according to the report.