The first semiconductor fab will be announced in a few weeks, and India is poised for a vibrant chip industry in the next 3-4 years on the back of enabling policies and the government’s firm commitment towards growing the manufacturing ecosystem, Union Minister Ashwini Vaishnaw said. on tuesday.
Today, 99 percent of mobile phones used here are made in India. This is in stark contrast to the situation 10 years ago when out of 100 phones, as much as 99 percent were imported, the Minister for Electronics and IT said during a session at CII Partnership Summit 2023.
“And now the ecosystem is also shifting to the country. When it comes to mobile phone manufacturing India is number two in manufacturing, and number three in exports,” the minister said.
This year, the mobile phone exports will touch $9.5-10 billion (nearly Rs. 78,361 crore-Rs. 82,485 crore), he added.
To spur the supply side, major initiatives have been undertaken by the centre, including a sharp focus on promoting the ecosystem and ensuring a clearly laid out policy framework that is stable and consistent, according to him.
The government is focused on creating and fostering the semiconductor industry and has been actively engaging with all stakeholders.
The government is “committed to do what’s required to succeed”, the minister said.
“…that is creating credibility, leading us to an inflection point where the first fab should be declared in coming few weeks and that’s just beginning,” Vaishnaw promised audiences.
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 noted.
India’s strategy of pursuing a combination of focused consumption and public investment path has led to sustainable growth and moderate inflation, the minister said.