India To Roll Out Indigenous Semiconductor Chips By December 2024 Says Ashwani Vaishnav By CIOTechOutlook Team

India To Roll Out Indigenous Semiconductor Chips By December 2024 Says Ashwani Vaishnav

CIOTechOutlook Team | Monday, 25 September 2023, 02:50 IST

The "Bhoomi Pujan" (groundbreaking ceremony) for the country's first semiconductor plant has taken place in Gujarat, according to Union Minister for Electronics and Information Technology Ashwini Vaishnaw. The groundbreaking for the country's first semi-conductor plant is a watershed event in Prime Minister Narendra Modi's goal of a self-sufficient India.

Vaishnaw expressed optimism that the semiconductor plant will be built shortly, and that the first indigenous microchips would be available by December 2024.

"Today 'Bhoomi Pujan' of the first semiconductor plant was conducted. This is an important step in carrying forward the PM's vision (of Atmanirbhar Bharat). The construction of the plant will be completed soon and the first indigenous microchips will roll out from here by December 2024," Vaishnaw said.

Underlining the strides marked by the country's electronic industry under the leadership of PM Modi, Vaishnaw said, "In 2014, the manufacturing cost of mobile phones in India was Rs 17,000 crores. This has now soared to Rs 3,65,000 crores. The electronics industry, once valued at Rs 1,90,000 crores, has expanded to be worth Rs 8,30,000 crores."

"Exports have increased fivefold, rising from Rs 40,000 crores to Rs 2,00,000 crores," the Union Minister added.

All these advancements are attributed to semiconductor chips, Vaishnaw said, adding that the country was poised to become a major semiconductor hub, as per economic times.

This semiconductor mission, which will be launched in December 2021, aims to establish India as a major participant in semiconductor technology. In accordance with this strategy, global semiconductor manufacturer Micron announced plans to invest USD 825 million in the construction of a new assembly and testing plant in Gujarat on June 22.