New Delhi, Oct 17 (PTI) Minister of State for Electronics and IT Rajeev Chandrasekhar on Monday felicitated Gujarat's industrialists and high net-worth individuals for their Rs 1,500-crore pledge to boost startup ecosystem, an official statement said.

Chandrasekhar has flagged off the first 'SemiconIndia FutureDesign' roadshow in Gandhinagar, Gujarat as part of the efforts to give a boost to the semiconductor design industry in the country.

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"Reposing faith in PM Shri Narendra Modi ji's pitch for Atma Nirbhar Bharat & IndiaTechade, Gujarati industrialists & HNIs pledged Rs 1,500 crore for catalyzing Gujarat's startup ecosystem. The minister felicitated them for their inspiring initiative and for setting an example for others to follow," the statement said.

In the biggest-ever corporate investment in the history of independent India, a joint venture of Vedanta and Foxconn had on September 14 signed a Memorandum of Understanding (MoU) with the Gujarat government to invest Rs 1,54,000 crore to set up an electronic chip manufacturing plant in the state.

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While addressing a gathering of students, startups and innovators, Chandrasekhar said that the roadshows have been planned with an aim to inspire startups, next-gen innovators and industry leaders to invest in semiconductor design and also help the country create a robust semiconductor ecosystem.

"We intend to take the Semicon India programme to every student, every college and make as many young Indians excited by and participate in the Semicon India journey," he said.

The minister also launched the ISRO tested and qualified NavIC receiver chipsets, ready to be deployed in the commercial market, at the event.

"MoS Shri Rajeev Chandrasekhar has played the role of a catalyst by taking PM's vision to all the stakeholders in the startup ecosystem of Gujarat. He has visited all the regions of Gujarat engaging with startups, innovators, investors and industry leaders galvanising support for the startup & innovation sector in the state," the statement said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)