On August 25, Commerce and Industry Minister Piyush Goyal announced that the Indian government would develop a framework to reduce the Bureau of Indian Standards (BIS) certification requirements for high-tech companies looking to manufacture in India, such as semiconductor and artificial intelligence enterprises.
Goyal stated that the government has acknowledged the semiconductor industry as a “need of the hour” and promised Japanese businesses full assistance from both the federal and state governments while speaking at a roundtable on semiconductors and artificial intelligence in Tokyo, Japan.
Goyal stated, “We would like to make India a global electronics manufacturing hub.” He added that India will assist businesses in finding possible investors and partners in the nation.
Goyal stated that he had noted industry players’ concerns on the standards for BIS certification. He said that BIS and the commerce ministry had already been given instructions to develop a structure that would assist high-tech companies moving machinery and parts into India for production.
According to him, the suggested structure might offer exemptions at the industry, business, product, or project level.
Goyal emphasized that the goal was to guaranty prompt supplies of goods and services for businesses setting up manufacturing operations in India. “We will work on the framework as I get back to India and find a solution for bulk exemption or product or project-wise exemption or company-wide exemption,” he stated.
Goyal also emphasized the increasing strategic complementarity between Japan and India, characterizing it as a chance to strengthen collaboration in cutting-edge manufacturing and technology. The comments coincide with India’s efforts to broaden its semiconductor ecosystem and draw in international technology suppliers and manufacturers. Japanese businesses are viewed as significant prospective partners in developing local electronics and chip manufacturing capabilities.
Also Read – “New Genaration Should Take Over”: Nitin Gadkari