Chips to screens: How Interim Budget 2024 boosts semiconductor, display technology sectors – ET Auto


Increased R&D investments will facilitate the development of cutting-edge chip materials, processes, and designs, ensuring that the industry remains at the forefront of tech progress.

The year 2024 has ushered in a new era for technology enthusiasts and industry experts alike, as governments around the world are recognizing the pivotal role that semiconductor and display technologies play in shaping the future.

With the release of Union Interim Budget 2024, there is a significant focus on boosting innovation and development in these key areas, setting the stage for groundbreaking advancements.

Investments in Research and Development
One of the central pillars of Budget 2024 is a substantial increase in funding for research and development in semiconductor technology. Governments are acknowledging the need for sustained innovation to keep pace with the rapidly evolving tech landscape.

Increased R&D investments will facilitate the development of cutting-edge semiconductor materials, processes, and designs, ensuring that the industry remains at the forefront of technological progress.

Promoting Semiconductor Manufacturing
Budget 2024 outlines measures to strengthen domestic semiconductor manufacturing capabilities.

Governments are recognizing the strategic importance of having a robust semiconductor industry to enhance national security and reduce dependence on foreign sources.

Incentives, tax breaks, and subsidies are being introduced to encourage the establishment of semiconductor fabrication plants, thereby creating a conducive environment for local chip production.

Enhanced Focus on AI and Quantum Computing
Semiconductor technology is integral to the advancement of artificial intelligence (AI) and quantum computing.

Recognizing the transformative potential of these fields, Budget 2024 allocates substantial resources to support research and development in AI and quantum computing, with a particular emphasis on semiconductor components that can accelerate processing speeds and improve efficiency in these cutting-edge technologies.

Display Technology Advancements
Budget 2024’s vision extends beyond semiconductors to include significant investments in display technology. Displays are omnipresent in our daily lives, from smartphones and laptops to televisions and digital signage.

The budget allocates resources to enhance the resolution, energy efficiency, and overall performance of displays. This includes support for the development of next-generation display technologies such as OLED (Organic Light-Emitting Diode) and MicroLED, promising brighter, sharper, and more energy-efficient screens.

Green Initiatives in Semiconductor Manufacturing
With an increasing focus on sustainability, Budget 2024 emphasizes the need for environmentally friendly practices in semiconductor manufacturing.

Governments are incentivizing the adoption of green technologies in semiconductor fabrication processes to minimize the industry’s carbon footprint. This includes investments in research to develop cleaner manufacturing processes and the promotion of energy-efficient semiconductor designs.

Cybersecurity in Semiconductor Systems
As semiconductor technology becomes more pervasive, the need for robust cybersecurity measures has never been more critical. Budget 2024 addresses this concern by allocating funds for the development of secure semiconductor systems.

This includes research into secure chip architectures, encryption technologies, and measures to protect against emerging threats such as side-channel attacks. Strengthening the cybersecurity of semiconductor components is essential for safeguarding critical infrastructure and ensuring the integrity of electronic systems.

Global Collaboration and Standardization
Recognizing the global nature of the semiconductor industry, Budget 2024 encourages international collaboration and standardization efforts.

Governments are investing in initiatives that foster cooperation between countries, research institutions, and industry players. Standardizing key aspects of semiconductor manufacturing and design can lead to interoperability, cost reduction, and accelerated innovation on a global scale.

Education and Workforce Development
To ensure the sustainability of the semiconductor and display technology sectors, Budget 2024 places a strong emphasis on education and workforce development. Initiatives are being introduced to train and educate the next generation of engineers and researchers in these specialized fields.

Scholarships, grants, and partnerships with educational institutions are being established to create a talent pool equipped to drive technological advancements in the semiconductor and display sectors.

Government’s comprehensive approach
Budget 2024’s comprehensive approach to boosting semiconductor and display technology marks a significant milestone in the ongoing technological revolution.

The increased investments in research and development, support for domestic manufacturing, and emphasis on sustainability and cybersecurity collectively position the country at the forefront of innovation. As the semiconductor and display industries continue to evolve, the initiatives outlined in Budget 2024 provide a solid foundation for driving progress and shaping the future of technology.

The collaborative efforts of governments, industry leaders, and the academic community are poised to propel these sectors to unprecedented heights, with far-reaching implications for our interconnected and technologically driven world.

  • Published On Mar 12, 2024 at 03:33 PM IST

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