India To Remain Top Semiconductor Producers in Next 5 Years: IT Minister

Union Minister for Railways, Telecommunications, Electronics, and Information Technology, Ashwini Vaishnaw stated that India is expected to become one of the top five countries in semiconductor manufacturing in the next five years.

During the Times Now Summit in 2024, Vaishnaw announced that the construction of four semiconductor units had begun in record time. India's semiconductor program is focused on establishing a complete ecosystem, rather than solely focusing on building one chip foundry unit.

In the beginning of this month, Prime Minister Narendra Modi laid the foundation stone of India's inaugural commercial chip manufacturing plant in Dholera, Gujarat. Additionally, he also unveiled the foundation stones for two outsourced semiconductor and assembly testing (OSAT) facilities located in Sanand, Gujarat and Jagiroad, Assam.

The foundation stone for the Tata-Powerchip Semiconductor Corp's semiconductor manufacturing unit in Dholera, the Tata group's OSAT unit in Assam and the CG Power-Renesas Group's OSAT unit at Sanand was laid in a record time of 15 days, as announced by Vaishnaw.

During the Summit on the other day, Vaishnaw stated that India is expected to experience a steady growth rate of 6%-8% in real terms over the coming decade. This growth will be built upon the progress achieved over the last decade.

“Electronics manufacturing was practically negligible 10 years back. Today, the electronics manufacturing industry is $110 billion worth. Apple alone is hiring more than 1 lakh people who are employed in factories for iPhone manufacturing,” Vaishnaw said, adding that the change over the last decade was fundamental.