India is positioning itself as the next major hub for global semiconductor production, driven by significant investments and government initiatives, according to Union Minister for Electronics and IT Ashwini Vaishnaw.
Speaking on the nation's progress, Vaishnaw stressed the growing international enthusiasm for India's potential in the sector, referencing a recent roundtable discussion in New York between Prime Minister Narendra Modi and top tech CEOs. According to the minister, several senior executives remarked that they had not seen such excitement for any country in the semiconductor space over the past 35 to 40 years.
The Indian government has cleared five semiconductor manufacturing proposals with a total combined investment nearing Rs 1.52 lakh crore. Among these, Micron Technology is set to roll out the first made-in-India chips by early 2025. Vaishnaw also noted that construction work is progressing at CG Power's semiconductor facility, as well as at Tata’s ATMP (Assembly, Testing, Marking, and Packaging) facility in Assam, further stressing the rapid development of the semiconductor ecosystem in the country.
Vaishnaw said that semiconductors are a foundational industry, with chips powering a vast range of modern devices, from medical instruments and smartphones to vehicles and televisions. He stressed that India's burgeoning semiconductor industry would not only contribute to technological advancement but would also align with Prime Minister Modi’s vision of bringing cutting-edge technology into the hands of common citizens.
Experts predict that India's semiconductor-related market will reach USD 64 billion by 2026, nearly three times its size in 2019. Vaishnaw reaffirmed that these initiatives, alongside national programmes like the India Semiconductor Mission, are helping the country capture a larger share of the global semiconductor market and drive innovation while creating jobs and fostering economic growth.
