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India aims to be top five in semiconductor manufacturing by 2026: Ashwini Vaishnaw

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In Short:

India is on track to become one of the top five countries for semiconductor manufacturing in the next five years. The focus is on creating a complete ecosystem rather than just one chip foundry unit. Prime Minister Modi recently laid the foundation stones for several semiconductor units in Gujarat and Assam. The growth of the electronics manufacturing industry has been significant in the last decade, with companies like Apple employing a large number of people for manufacturing.

India’s Rise in Semiconductor Manufacturing Industry

India is poised to become one of the top five countries for semiconductor manufacturing in the next five years, according to Ashwini Vaishnaw, the union minister for railways, telecommunication, electronics, and information technology.

Development of Semiconductor Units

Vaishnaw highlighted that the construction of four semiconductor units has already commenced, with a strong focus on building an entire ecosystem rather than just one chip foundry unit. This initiative is expected to boost India’s position in the global semiconductor market.

Recently, Prime Minister Narendra Modi laid the foundation stone for the country’s first commercial chip foundry at Dholera in Gujarat, along with two outsourced semiconductor and assembly testing (OSAT) units at Sanand in Gujarat and Jagiroad in Assam.

The foundation stone laying ceremony for these units, including the Tata-Powerchip Semiconductor Corp’s fabrication unit and the Tata group’s OSAT unit, was completed in a record time of 15 days, emphasizing India’s commitment to rapid progress in the semiconductor industry.

Growth Outlook

Speaking at the Times Now Summit, 2024, Vaishnaw expressed confidence in India’s economic growth, projecting a consistent rate of 6%-8% in real terms over the next decade. He noted that the electronics manufacturing sector has witnessed remarkable growth, with the industry now valued at $110 billion.

Vaishnaw cited Apple’s significant impact on the sector, with the tech giant employing more than 1 lakh people in iPhone manufacturing factories. He emphasized the transformative shift in the electronics manufacturing landscape over the past decade.

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