India has launched an ambitious strategy to become a major supplier for the world, investing its own USD 10 billion, Communications Minister Ashwini Vaishnaw said, sensing a sizable opportunity in the global semiconductor market.
The minister stated that there is a sizable market for semiconductors and India has enormous potential in terms of infrastructure, talent pool, and technology during a session on “Learning from semiconductor supply shocks” at the World Economic Forum Annual Meeting 2023 held here.
We have partnered with numerous colleges to develop the proper talent, and our university system, which creates a lot of talent, is also very helpful in this regard, he added.
When asked about the government’s own investment intentions, he responded that the government is investing USD 10 billion and has a long-term plan in place.
“We see enormous potential for India to emerge as a major global supplier of semiconductors, particularly for the most recent demands, such as those for electric vehicles and all cutting-edge technology. We are confident that there will be a significant demand, “Added he.
In the following 6-7 years, the industry’s size will double to reach USD 1 trillion, with the growth rate expected to sharply accelerate.
According to Vaishnaw, the government would make sure that the new factories are provided with green energy since it cares about the environment.
