India to ease semiconductor, auto component manufacturing rules within two months: Goyal

India will amend regulations and introduce new rules within two months to address concerns raised by semiconductor and automotive component manufacturers, Commerce and Industry Minister Piyush Goyal said Monday. Speaking at a Nikkei Asia event in Tokyo, Goyal said he met two companies seeking to bring manufacturing to India and that their concerns were resolved. He also simplified the Bureau of Indian Standards framework and approval processes. The Union Cabinet approved Semicon 2.0 to develop India's semiconductor ecosystem, aiming to seed $50 billion in semiconductor and associated industries within the next year and a half. Goyal rejected India being viewed as a "plus one" destination.