India to manufacture 300 crore semiconductor chips in a year, announces IT Minister

New Delhi, March 2 (IANS) The Union Electronics and IT Minister Ashwini Vaishnaw has announced that India is set to meet its demand for semiconductors by 2029 and begin exporting them. The country aims to fabricate 300 crore semiconductor chips annually, marking a significant milestone in the semiconductor industry.

Vaishnaw highlighted that India now possesses the capabilities for design, assembly, testing, marking, packaging, and fabrication of semiconductors. This development is expected to bring the entire semiconductor chain to India, positioning the country as a major player in the global semiconductor market.

The minister further stated, “A significant part of our semiconductor requirements will be manufactured in India. We are on track to become major exporters of semiconductors, similar to our achievements in the mobile phone manufacturing sector.”

Industry sources reveal that investment proposals worth $26 billion are currently under consideration by the government for semiconductor manufacturing in India. Additionally, over $18 billion worth of proposals have already been approved, including three semiconductor fabrication projects amounting to Rs 1.3 lakh crore that were recently announced.

The first domestically-produced chip from the Micron semiconductor plant in Gujarat, which has been set up with an investment of Rs 22,500 crore, is scheduled to be launched in December this year. Vaishnaw also mentioned that eight large investment firms are exploring opportunities in the telecom sector in response to the country’s rapid digital transformation and emerging investment potential.

The growing interest from investors indicates that India is increasingly being viewed as a lucrative emerging market for investments. This development is expected to bolster the country’s position in the global semiconductor and technology industries, paving the way for economic growth and technological advancements.

–IANS
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