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Bengaluru: The government will take five to eight months to finalize a list of proposals by semiconductor companies that have shown interest to create research and development, and manufacturing units in India, Ashwini Vaishnaw, minister for communications and electronics & information technology, said here on Friday.

The minister further said the world’s leading major companies are actively engaged in exploring the semiconductor industry in the country.

“There is no instant gratification in the semiconductor ecosystem. It is about steadily building the confidence and capabilities that will stand the test of time for the next 25 years," Rajeev Chandrasekhar, minister of state for electronics and information technology, said at a press conference at the ‘SemiconIndia Conference 2022’.

He said there is a tremendous amount of financial and policy support from the government. Indian semiconductor startups will have a very significant role to play going forward.

Vaishnaw added that developing the semiconductor industry in the country is not a sprint, but a marathon.

“We are prepared. We understand that many countries are offering incentives. We also offer substantial incentives, but the big differentiator is that we have spoken to many of the CEOs of global majors, that we are committed to create an augment our talent pool by 85,000 semiconductor professionals over the next 10 years," the minister said.

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