Wednesday, January 24, 2024

It's Critical To Prioritize Joint Government- Projects To Promote Innovation Throughout Semiconductor Industry

Pre budget expecations from Mohan Lakhamraju, Founder, Great Learning a leading global edtech company; and Dr Venkat Mattela, CEO &Founder, CeremorphicC, India-based semiconductor startup.

"With technological advancements happening every minute, relying just on a college education is not enough for the Indian youth. They will have to keep updating and upskilling themselves to utilise their full potential in strengthening our economy. Removal or Reduction of GST rate from upskilling programs in the upcoming Union Budget will help solve this by democratising access to quality education, fostering innovation and employability. Formalising the edtech sector and streamlining operations through regulations and policies instils confidence among stakeholders,  fostering an environment conducive to growth. These changes ultimately align with the national goal of developing a more responsive education system, equipping the workforce in this knowledge-driven economy to meet the evolving demands of the job market."

“The semiconductor industry's tenacity and dedication to innovation, indicate bright development possibilities in the rapidly changing technological world as the 2024 budget draws near. It's critical to prioritise joint government-organization projects to promote innovation throughout India's semiconductor industry.

With green energy and sustainability taking centre stage in worldwide efforts to cut carbon emissions, policies like the National Green Hydrogen Mission will help move the economy towards low carbon intensity and lessen dependency on imported fossil fuels for sustainable growth. The renewable energy industry has enormous potential for cooperation with semiconductor fabrication plants by assisting in establishing ESG norms. At the grassroots level, such as in high schools and colleges across the nation, the government must also continue to support skill development initiatives like the Pradhan Mantri Kaushal Vikas Yojana 4.0 and Skill India Digital platform, with appropriate curricula to prepare the workforce for Industry 4.0 and beyond”,

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