India Is Poised For a Vibrant Chip Industry In Next 3-4 Years, Says Ashwini Vaishnaw

As per the report, the government is focused on creating and fostering the semiconductor industry and has been actively engaging with all stakeholders

learn more about Teena Jose

By Teena Jose

Ashwini Vaishnaw Twitter handle

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Union Minister Ashwini Vaishnaw has said that the first semiconductor fab will be announced in a few weeks, and India is poised for a vibrant chip industry in the next 3-4 years on the back of enabling policies and the government's firm commitment towards growing the manufacturing ecosystem, according to a PTI report.

The Minister for Electronics and IT reportedly said during a session at CII Partnership Summit 2023, "Today 99% of mobile phones used here are made in India. This is in stark contrast to the situation 10 years ago when out of 100 phones, as much as 99% were imported."

"And now the ecosystem is also shifting to the country. When it comes to mobile phone manufacturing India is number two in manufacturing, and number three in exports," the minister said and added that "This year, the mobile phone exports will touch $9.5 -10 billion."

As per the report, the government is focused on creating and fostering the semiconductor industry and has been actively engaging with all stakeholders.

The government is "committed to do what's required to succeed. That is, creating credibility, leading us to an inflection point where the first fab should be declared in the coming few weeks and that's just the beginning," said Vaishnaw.

He further promised that, "Given the progress on all fronts in India's semiconductor blueprint. We should see a vibrant semiconductor industry in the coming 3-4 years."

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Related Topics


5 Winning Habits That Will Transform Your Leadership Skills

Ready to take your leadership skills to the next level? Discover the five winning habits that will transform you into an exceptional leader!

Thought Leaders

The Collapse of Credit Suisse: A Cautionary Tale of Resistance to Hybrid Work

This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce's needs and preferences.

News and Trends

Uravu Labs Raises $2.3 Million In Seed Funding

With the funding, the startup aims to take a significant step towards commercializing renewable water solutions, primarily directing the funds towards scaling up and forging new partnerships with leading players in the hospitality and beverage sector to expand their reach and impact

Business News

Meta Employees Interrogate Mark Zuckerberg in Town Hall Meeting

The CEO fielded tough questions from rattled staffers at an all-hands meeting.