India is on track to secure a position among the global top five in semiconductor manufacturing by 2030, announced Ashwini Vaishnaw, the Union Minister for Railways, Telecommunication, Electronics, and Information Technology. At the forefront of this ambitious drive, construction on four semiconductor units has already commenced, marking a significant stride towards realizing this goal. The minister highlighted the strategic approach of developing a comprehensive semiconductor ecosystem in India, a statement he made while speaking at the ‘Times Now Summit 2024’.
The country’s dedication to becoming a key player in the semiconductor industry was underscored earlier this month by Prime Minister Narendra Modi’s inauguration of the nation’s first commercial chip foundry in Dholera, Gujarat. Additionally, Modi laid the cornerstone for two outsourced semiconductor and assembly testing (OSAT) facilities, one in Sanand, Gujarat, and the other in Jagiroad, Assam, signifying a major push towards enhancing India’s semiconductor capabilities.
These foundational ceremonies, including those for Tata-Powerchip Semiconductor Corp’s fabrication unit in Dholera and the Tata group’s and CG Power-Renesas Group’s OSAT units in Assam and Sanand respectively, were completed in an unprecedented span of 15 days, reflecting the urgency and commitment of the Indian government towards this sector.
In his address at the Summit, the minister was optimistic about India’s economic trajectory, forecasting a consistent growth rate of 6%-8% over the next decade, building upon the substantial progress made in the last ten years. He pointed out the remarkable transformation in the electronics manufacturing sector, which from a negligible presence a decade ago, has burgeoned into a $110 billion industry today. A significant highlight of this growth is Apple’s employment surge in India, with over 100,000 individuals working in iPhone manufacturing facilities, showcasing the fundamental shift in India’s manufacturing landscape.
This ambitious expansion into semiconductor manufacturing underscores India’s resolve to establish itself as a formidable player in the global tech industry, leveraging its growing manufacturing capabilities and strategic investments to fuel economic growth and technological innovation.
