According to Union Minister Ashwini Vaishnaw, India is expected to join the ranks of the top five semiconductor manufacturers in the next five years.
During his speech at the Times Now Summit 2024, the Minister for Communications and Electronics and IT highlighted that the significant advancements in precision technology, particularly in semiconductors, can be attributed to Prime Minister Narendra Modi's dedication to establishing a comprehensive semiconductor ecosystem in India. Rather than solely focusing on building plants, the Prime Minister has adopted a long-term perspective to ensure sustainable progress in this field.
"I must have personally met about 45 companies, CEOs and CTOs. We asked them every detail needed to set up this new industry. There are over 250 chemicals and gases which go into semiconductor manufacturing. We have four units where the construction work is going on," he said.
On March 13, Prime Minister Narendra Modi initiated the construction of three new chip factories - two located in Gujarat and one in Assam. The establishment of two out of these three factories is being undertaken by Tata Group.
The investment in these three plants will be approximately Rs 1.25 lakh crore.
The semiconductor sector in India is currently in its early stages, with both local and international companies looking to explore its immense opportunities.
The Tata Group is optimistic that the manufacturing of semiconductor chips at their two facilities in Gujarat and Assam will commence in 2026. The scarcity of chips during the Covid pandemic has emphasized the need for domestic production to address the shortfall in national security and promote homegrown innovation.
The construction of Micron's advanced semiconductor manufacturing facility in Sanand, Gujarat, India's first of its kind, is progressing rapidly. It is anticipated to be operational by the end of 2024.
Currently, there are a total of four semiconductor units being worked on - three in Gujarat and one in Assam.
Ashwini Vaishnaw stated on March 19 that India will experience the introduction of its first domestic semiconductor chip by the end of this year.
Semiconductors play a vital role in contemporary society and are essential for producing a wide range of devices such as mobile phones, medical equipment, automobiles, and electronic gadgets.
According to reports from the media, around 70 percent of the entire manufacturing capacity is focused in South Korea, Taiwan, China, the United States, and Japan.
During the Thursday event, Vaishnaw also mentioned that the production of iPhones in India was almost insignificant a decade ago.
Nevertheless, the current figure stands at USD 110 billion. He highlighted that Apple is recruiting over 100,000 individuals to work at the Apple iPhone manufacturing plants in India. Apple is producing its most recent iterations of the iPhone in India.
