Ashwini Vaishnaw, India’s Minister for Railways, Telecommunication, Electronics, and Information Technology, has asserted that India is poised to become one of the top five global leaders in Semiconductor manufacturing by 2030.

Vaishnaw highlighted that the construction of four semiconductor units has commenced at an unprecedented pace. He emphasized that India’s semiconductor program aims to establish a comprehensive ecosystem rather than solely focusing on setting up individual chip foundry units. These comments were made during the 2024 Times Now Summit.

Earlier this month, Prime Minister Narendra Modi inaugurated the country’s first commercial chip foundry in Dholera, Gujarat. Additionally, he laid the foundation stones for two outsourced semiconductor and assembly testing (OSAT) units in Sanand, Gujarat, and Jagiroad, Assam.

Vaishnaw previously announced that the foundation stones for Tata-Powerchip Semiconductor Corp’s semiconductor fabrication unit in Dholera, Tata Group’s OSAT unit in Assam, and CG Power-Renesas Group combine’s OSAT unit in Sanand were laid within a record time of 15 days.

Addressing the Summit on Thursday, Vaishnaw projected a consistent growth rate of 6%-8% in real terms for India in the coming decade, building upon the progress achieved in the previous decade.

He emphasized the significant transformation witnessed in the electronics manufacturing industry, which was almost non-existent a decade ago but now boasts a value of $110 billion. Vaishnaw cited Apple’s substantial role in job creation, with over 100,000 individuals employed in factories for iPhone manufacturing alone, underscoring the fundamental changes experienced over the last decade.

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