India to be Top Semiconductor Producers in Next 5 Years: IT Minister By CIOTechOutlook Team

India to be Top Semiconductor Producers in Next 5 Years: IT Minister

CIOTechOutlook Team | Friday, 29 March 2024, 02:42 IST

India to rank among the main five nations for semiconductor manufacturing in the following five years, Union Minister for Railways, electronics, and Information Technology Ashwini Vaishnaw said.

He also added that the four semiconductor units' development had begun in record time. Vaishnaw said that the emphasis of India's semiconductor program was to set up a whole environment as opposed to hurling all weight behind setting up one chip foundry unit.

Prime Minister Narendra Modi recently established the groundwork stone for the nation's initial business chip foundry at Dholera in Gujarat. He also established the groundwork stone for two outsourced semiconductor and assembly testing (OSAT) units in Sanand, Gujarat, and Jagiroad, Assam.

The establishment stone for the Tata-Powerchip Semiconductor Corp’s semiconductor manufacture unit at Dholera, the Tata group’s OSAT unit in Assam, and the CG Power-Renesas Gathering join's OSAT unit at Sanand has been laid in a record season of 15 days, Vaishnaw had then said.

At the Summit the other day, Vaishnaw mentioned that the nation would develop at a reliable pace of 6%-8% in genuine terms in the approaching ten years, which would be on the rear of the development accomplished throughout the past ten years.

“Electronics manufacturing was practically negligible 10 years back. Today, the electronics manufacturing industry is $110 billion worth. Apple alone is hiring more than 1 lakh people who are employed in factories for iPhone manufacturing,” Vaishnaw said, adding that the change over the last decade was fundamental.