Monday, June 16, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Manufacturing

Manufacturing: Budget 2023-24 to kickstart semiconductor development

Fiinews by Fiinews
February 4, 2023
in Manufacturing
Reading Time: 2 mins read
A A
0
Spark Minda

Aakash Minda.

0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Spark Minda is geared for India’s dynamic growth story

The Rs.3,000 crore allocation from Budget 2023-24 is bound to help kickstart the development of semiconductor and display manufacturing ecosystem in India, says Aakash Minda, Executive Director, Minda Corporation Limited.

The Indian Semiconductor Mission is  also set to benefit from another Rs.1,000 crore allocation for the modified scheme for setting up of semiconductor fabs in the country, he said on 2 Feb 2023 in comments on the Budget 2023-24.

“This remarkable move is a huge step towards resolving the current shortage of semiconductors in the country,” he said.

Noteworthy initiatives which will have a lasting impact on the sector include customs duty exemption extended to import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles.

“This exemplary move will boost the EV ecosystem by reducing the cost of EVs in the country. The focus will also propel the Government’s flagship initiatives Make in India or AatmaNirbhar Bharat, benefiting both customers and automobile manufacturers,” he said.

The Vehicle Scrappage Policy announced by Finance Minister Nirmala Sitharaman will ensure that pollution levels are in check, he believes.

“The discontinuation of vehicles above 20 years will result in an increase in overall vehicles sales and faster adoption of e-vehicles. This will lead to a high demand for components.

“We are confident that this will widen the opportunities for auto component manufacturers and boost the sector’s growth sentiment,” said Minda.

He further pointed out that Spark Minda is geared up to participate and contribute to India’s dynamic growth story by focusing on collaborations, partnerships and generating more employment opportunities.

Incorporated in 1985, Minda Corporation is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified product portfolio that encompasses Mechatronics; Information and Connected Systems and Plastic and Interior for auto OEMs. fiinews.com

Tags: Spark Minda
ShareTweetShare

Related Posts

Grainspan
Manufacturing

Manufacturing: Grainspan supplies ethanol to OMCs

by Fiinews
June 16, 2025
0
13

Ahmedabad plant takes advantage of Govt interest subsidy Encouraged by the Union Food Ministry's interest subsidy scheme, Grainspan Nutrients’ two...

Garuda Aerospace
Manufacturing

Manufacturing: Agri-Drone Facility inaugurated

by Fiinews
June 15, 2025
0
13

BDA brings component manufacturers under one roof Minister of State for Rural Development Kamlesh Paswan has inaugurated Garuda Aerospace's new...

Clearsynth

Manufacturing: TDB supports Clearsynth project

June 14, 2025
13
Minda

Manufacturing: JV to make auto switches in Noida

June 13, 2025
15
Solarium

Manufacturing: Solarium’s 1,000MW Ahmedabad plant

June 12, 2025
13
Micron

Manufacturing: Semiconductor SEZ rules amended

June 11, 2025
12
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Market: KBC expands into renewable sector
  • Project: DNV-India deepen maritime cooperation
  • Project: Joshi underlines Wind Energy strategy
  • Invest: PM welcomed Cyprus FDI in Indian economy
  • Tech: Infobell-AMD expand AI collaboration

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.