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India to Produce 300 Crore Semiconductor Chips Annually: IT Minister
Union Electronics and IT Minister Ashwini Vaishnaw has declared that by 2029, India is poised not only to fulfill its semiconductor demand but also to initiate exports, manufacturing an impressive "300 crore semiconductor chips annually." Vaishnaw highlighted India's current capability, where design is complemented by assembly, testing, marking, packaging (ATMP), and fabrication capacities. This strategic positioning, he noted, will localize the entire semiconductor production chain within India, significantly meeting domestic requirements and transforming the nation into a major exporter, akin to its success in the mobile phone export market.
Industry sources report an influx of investment proposals, totaling around $26 billion, currently under government review for semiconductor manufacturing in the country. Substantiating the commitment to this sector, the government has already approved over $18 billion worth of proposals. This includes the recent announcement of three semiconductor fabrication (fab) manufacturing projects, collectively valued at Rs 1.3 lakh crore. The inaugural chip from the Rs 22,500 crore Micron semiconductor facility in Gujarat is anticipated to be available by December this year, marking a significant milestone in India's semiconductor production journey.
In addition to the semiconductor sector, Minister Vaishnaw disclosed that the telecom industry is attracting attention from at least eight major investment firms. This heightened interest aligns with the ongoing digital transformation and emerging opportunities in the sector. The minister emphasized that India is increasingly perceived as an attractive emerging market, drawing the attention of investors seeking opportunities in the nation's dynamic economic landscape.
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