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
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."