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

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

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

Ashwini Vaishnaw Twitter handle

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.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Business News

He 'Accidentally Discovered' a Semi-Passive Side Hustle in College — Now He's on Track to Make More Than $500,000 This Year

When a lack of funding put a stop to Zach Downey's pizza vending machines, he stumbled upon another lucrative idea.

Thought Leaders

46 Facts You Should Know About Entrepreneurship (Infographic)

Before embarking on your entrepreneurial journey, check out this handy graphic.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.


The Rules of SEO Are Changing — Here Are 5 Powerful Strategies to Help You Rank in 2024

Do you need help to rank well on Google due to new algorithm updates? Discover five SEO strategies that work in 2024.

News and Trends

Ananya Birla's Svatantra Microfin Receives USD 230 Mn from Advent International and Multiples

Mumbai-based Svatantra offers financial and non-financial solutions to women entrepreneurs in India.


6 Tips for Successfully Communicating Your Personal Brand

Follow these simple guidelines to stand out from the crowd and effectively broadcast your own personal brand to the world.