Union Minister Ashwini Vaishnav said the first semiconductor fab will be announced in a few weeks, and India is set to have a vibrant chip industry in the next 3-4 years due to enabling policies and the government’s strong commitment towards enhancing the manufacturing ecosystem. . On Tuesday.
Today 99 percent of the mobile phones used here are made in India. This is a stark contrast to the situation 10 years ago when 99 per cent of 100 phones were imported, the Electronics and IT Minister said during a session at the CII Partnership Summit 2023.
“And now the ecosystem is also shifting in the country. When it comes to mobile phone manufacturing, India stands second in manufacturing and third in exports,” the minister said.
He said, this year mobile phone exports will reach 9.5-10 billion dollars (about Rs 78,361 crore to Rs 82,485 crore).
According to him, to boost the supply side, major initiatives have been taken by the Centre, including promoting the ecosystem and ensuring a clearly laid out policy framework that is stable and consistent.
The government is focused on building and promoting the semiconductor industry and is actively engaging with all stakeholders.
“The government is committed to doing what is necessary for success,” the minister said.
Vaishnav promised the audience, “…this is building credibility, getting us to a tipping point where the first Fab should be announced in the coming weeks and this is just the beginning.”
Given the progress on all fronts in India’s semiconductor blueprint, “we should see a vibrant semiconductor industry in the coming 3-4 years,” he said.
The minister said India’s strategy of pursuing a combination of concentrated consumption and public investment path has led to sustainable growth and moderate inflation.
