New Delhi, June 15: Union Heavy Industries and Steel Minister HD Kumaraswamy on Saturday said semiconductors are a strategic industry and he will work towards fulfilling Prime Minister Narendra Modi’s initiatives in the sector that will generate a lot of jobs.

In a post on social media platform

“Both sectors provide a lot of employment. I greatly appreciate @PMOIndia’s semiconductor related initiatives and will work through my ministry to achieve them,” Minister Kumaraswamy said.

Former Union Minister Rajeev Chandrasekhar, in a post on

“Our digital and technological economy is creating a lot of investments and jobs, especially in electronics manufacturing, which in turn depends on semiconductors,” said Chandrasekhar.

For the BJP-led NDA government, the focus areas for the next decade are clearly electronics and microelectronics manufacturing, semiconductors, AI, automotive and electric vehicles.

PM Modi recently laid the foundation stone for semiconductor factories worth over Rs 1.25 lakh crore.

India is the fastest growing digital economy in the world and aims to become a trillion dollar digital economy by 2030.

According to Union Railways, I&B and IT Minister Ashwini Vaishnaw, the country has commissioned four semiconductor manufacturing units and will become one of the largest semiconductor hubs in the world in the next five years.

According to Counterpoint Research, the Indian semiconductor market is likely to reach $64 billion by 2026, almost three times the value in 2019.