Union Minister of Communications and Electronics and IT Ashwini Vaishnav on Tuesday confirmed India’s upcoming innovative initiative in the semiconductor industry. Speaking at CNN-AnyTV’s Rising India Summit 2024, Vaishnav announced that by December 2024, India will launch its first indigenous semiconductor chip.
Emphasizing the important role of strong faith and right policies in achieving this feat, Vaishnav said: “Without strong faith and right policies, this would not have been possible.” He underlined the universal nature of semiconductor chips, highlighting the integral role of these chips in various electronic products ranging from lights to trains, missiles to airplanes and refrigerators.
Reflecting Prime Minister Narendra Modi’s commitment to technological advancement, Vaishnav highlighted his deep involvement in discussions related to semiconductors. Reflecting Modi’s strong dedication to promoting a developed India, Mr Vaishnav said, “When we asked PM Narendra Modi for 45 minutes to discuss semiconductors, he gave about 3 hours for an in-depth discussion. Were.”
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Vaishnav credited PM Modi for laying the foundation of a developed India, especially in electronics manufacturing.
Responding to criticism about India’s manufacturing capabilities, Mr Vaishnav provided a comprehensive analysis of the country’s industrial revolution, drawing practical parallels with the growth trajectory of the automotive sector. He clarified that India’s journey towards self-reliance in manufacturing mirrors the phases in the development of the automotive industry.
Initially the focus was on assembly as completely knocked down (CKD) units, where cars were assembled domestically. Over time, this evolved into Semi Knockdown Units (SKD), reflecting a transition toward partial assembly of components. Subsequently, an ecosystem of component manufacturers that catered to various levels of production began to emerge.
This progress paved the way for the establishment of Tier 1, Tier 2 and Tier 3 vendors, fostering a strong supply chain network. Furthermore, Vaishnav highlighted how these advancements have resulted in exports, which shows the maturity of the automotive industry. Discussing the parallels between these developments and India’s manufacturing scenario, Vaishnav encouraged the notion of just assembling and discussed the country’s journey towards establishing self-reliance in industries.
Giving his thoughts the speed of a bullet train, the Minister highlighted the remarkable progress in the manufacturing sector in India. Vaishnav shared encouraging figures on mobile and electronics manufacturing, defense exports and telecom manufacturing, which highlight the significant progress made by India in these sectors.
He emphasized that mobile manufacturing, which was once considered negligible, has today reached an impressive $55 billion, which shows the country’s strength in this sector. Moreover, the electronics manufacturing sector has also made remarkable progress, reaching a valuation of $105 billion and demonstrating double-digit growth.
Vaishnaw also highlighted the success in defense exports, sharing a huge figure of $2 billion, underscoring India’s growing global presence in defense manufacturing. He also highlighted the promising telecom manufacturing industry, which was earlier considered challenging to envision in India’s manufacturing landscape. “Remarkably, telecom manufacturing now accounts for $1 billion in exports, indicating a remarkable turnaround in the fortunes of the sector,” he said. These figures collectively underline India’s growing manufacturing capabilities and its growing stature as a global manufacturing power.
With India set to launch its first semiconductor chip and seeing substantial growth in manufacturing sectors, Vaishnav expressed a positive outlook about the country’s trajectory towards becoming a global manufacturing hub. As policies evolve and simplification takes effect, India is poised for transformative growth in the years to come.
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Tags: ashwini vaishnav, Rising India Summit
FIRST PUBLISHED: April 4, 2024, 12:07 IST