India Set to Emerge as the Next Chip Manufacturing Hub, Ashwini Vaishnaw

Union Minister for Electronics and Information Technology Ashwini Vaishnaw said India was fast emerging to become the next semiconductor hub globally, as big investments were happening in this sector in the country.

Refering to a recent round table in New York between Prime Minister Narendra Modi and the top tech CEOs, Minister Vaishnaw said three top executives during the discussion said that they have never seen this kind of enthusiasm for any country in the last 35 to 40 years.
The Central government has cleared five semiconductor manufacturing proposals, with the total combined investment nearing Rs 1.52 lakh crore.

Union Minister He also added that the first made-in-India chips from Micron Technology will be rolled out by early 2025. The construction work of the CG power semiconductor facility is going on and in Tata's ATMP facility in Assam, the construction work is going on very well, he said.

Earlier, the Minister said, growth of semiconductor industry in India will further boost the vision of PM Modi. Semiconductor is a foundational industry. Chips manufactured in the industry are used in medical instruments, mobile phones, laptops, cars, trucks, trains, televisions, and practically every device.

All such initiative so far, whether it is Digital India Mission or the telecom mission has brought technology in the hands of common citizens.

According to reports, India's semiconductor-related market is likely to receive $64 billion in 2026, nearly threefold higher than in 2019. To this end, the 'Semicon India' initiative affords financial support for front-end fabrication units, sensors, display manufacturing, display fabs, semiconductor packaging, and compound semiconductors.

According to experts, "with expanded production capacities, the country is likely to occupy a vital spot in the global semiconductor market. At the national level, Semicon India Programme and the India Semiconductor Mission are designed to capture a considerable share of the global market, to innovate, and to promote growth that may even result from employment generation and technology development.