India’s first semiconductor manufacturing plant to be announced in a few weeks: IT Minister

This year, the export of mobile phones will amount to 9.5-10 billion dollars, the minister said. (File)

New Delhi:

The first semiconductor plant will be announced in a few weeks, and India is poised for a vibrant chip industry in the next 3-4 years thanks to enabling policies and strong government commitment to grow the manufacturing ecosystem, Union Minister Ashwini Vaishnav said. today.

A fab is a factory that makes semiconductor devices.

Today, 99 percent of mobile phones used here are made in India. This is in stark contrast to the situation 10 years ago when 99 per cent of the 100 handsets were imported, the Electronics and IT Minister said at the CII Partnership Summit 2023 session.

“And now the ecosystem is also shifting to the country. As for mobile phone production, India ranks second in production and third in exports,” said the minister.

This year, mobile phone exports will amount to 9.5-10 billion dollars, he said.

To stimulate the supply side, the Center has taken major initiatives, including a focus on promoting the ecosystem and providing a solid and consistent policy framework.

The government is committed to building and developing the semiconductor industry and is actively engaging with all stakeholders.

The government is “committed to doing what it takes to succeed,” the minister said.

“…this gives us confidence that the first fab should be announced in the next few weeks and this will lead to an inflection point that is just beginning,” Ashwini Vaishnav promised the audience.

Given the progress on all fronts in India’s semiconductor project, “we should see a booming semiconductor industry in the next 3-4 years,” he said.

India’s strategy of combining focussed consumption and public investment has led to steady growth and moderate inflation, the minister said.

(Except for the headline, this story was not edited by NDTV staff and was published on a syndicated channel.)

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