India is poised not only to meet its semiconductor demand by 2029 but also to transition into an exporting powerhouse, boasting an annual production of "300 crore semiconductor chips," as stated by Union Electronics and IT Minister Ashwini Vaishnaw.
Vaishnaw emphasized the significant strides India has made, with a growing capability in design coupled with assembly, testing, marking, and packaging (ATMP) as well as fabrication capabilities. He highlighted the transformative impact this would have on the semiconductor industry, bringing the entire manufacturing chain to India.
Furthermore, the minister projected a future where a substantial portion of India's semiconductor needs would be fulfilled domestically, paralleling the nation's success as a major exporter of mobile phones.
Industry sources reveal a staggering $26 billion worth of investment proposals for semiconductor manufacturing currently under consideration by the Indian government. Of these, over $18 billion worth of proposals have already received approval. This includes three semiconductor fabrication (fab) manufacturing projects totaling Rs 1.3 lakh crore, announced recently.
The imminent arrival of the first India-made chip from the Micron semiconductor plant in Gujarat, with an investment of Rs 22,500 crore, is anticipated by December this year, marking a significant milestone in India's semiconductor journey.
In addition to advancements in the semiconductor sector, Vaishnaw highlighted the increasing interest from eight major investment firms eyeing opportunities in the telecom sector. This underscores India's attractiveness as an emerging market for investors amidst rapid digital transformation and the emergence of new opportunities.
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