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Union Minister for Communications and Electronics & IT, Ashwini Vaishnaw, on Tuesday confirmed India’s forthcoming milestone in the semiconductor industry. Speaking at CNN-News18’s Rising Bharat Summit 2024, Vaishnaw declared that by December 2024, India will witness the launch of its first indigenous semiconductor chip.
Vaishnaw emphasised the crucial role of conviction and appropriate policies in achieving such a feat, stating: “Without conviction and the right policies, something like this cannot happen.” He underscored the universal nature of semiconductor chips, highlighting their integral role in various electronic products, from lights to trains, missiles to aeroplanes, and refrigerators.
Reflecting on Prime Minister Narendra Modi’s commitment to technological advancement, Vaishnaw revealed the former’s deep involvement in discussions related to semiconductors. “When we used to ask for 45 minutes of PM Narendra Modi’s time for semiconductor discussions, he used to give about 3 hours for a thorough discussion,” Vaishnaw said, illustrating Modi’s steadfast dedication to fostering a developed India.
Vaishnaw credited PM Modi for his unwavering commitment to laying the foundation for a developed India, particularly in electronics manufacturing.
Responding to criticism about India’s manufacturing capabilities, Vaishnaw provided a comprehensive analysis of the country’s industrial revolution, drawing insightful parallels with the automotive sector’s growth trajectory. He elucidated that India’s journey towards self-reliance in manufacturing mirrors the stages witnessed in the automotive industry’s development.
Initially, the focus lay on assembling, akin to the Completely Knocked Down (CKD) units, where cars were assembled domestically. Over time, this evolved into Semi Knockdown Units (SKD), reflecting a transition towards partial assembly of components. Subsequently, an ecosystem of component manufacturers began to emerge, catering to various tiers of production.
This progression paved the way for the establishment of Tier 1, Tier 2, and Tier 3 vendors, fostering a robust supply chain network. Furthermore, Vaishnaw highlighted how these advancements culminated in exports, signifying the maturation of the automotive industry. By drawing parallels between these developments and India’s manufacturing landscape, Vaishnaw debunked notions of mere assembling and underscored the nation’s journey towards establishing self-sufficiency across industries.
Giving his thoughts a bullet train speed, the minister then highlighted remarkable progress in the manufacturing sector in India. Vaishnaw shared encouraging statistics on mobile and electronics manufacturing, defence exports, and telecom manufacturing, elucidating the significant strides India has made in these sectors.
He emphasised that mobile manufacturing, once considered negligible, has surged to an impressive $55 billion, reflecting the nation’s prowess in this domain. Furthermore, the electronics manufacturing sector has attained a remarkable milestone, reaching a valuation of $105 billion, and demonstrating robust double-digit growth.
Vaishnaw also highlighted the success in defence exports, noting a substantial figure of $2 billion, underscoring India’s increasing global presence in defence manufacturing. He shed light on the promising telecom manufacturing industry, previously deemed challenging to envision within India’s manufacturing landscape. “Remarkably, telecom manufacturing now boasts exports worth $1 billion, signifying a remarkable turnaround in the sector’s fortunes,” he said. These figures collectively underscore India’s burgeoning manufacturing capabilities and its growing stature as a global manufacturing powerhouse.
With India poised to launch its first semiconductor chip and witnessing substantial growth across manufacturing sectors, Vaishnaw expressed optimism about the nation’s trajectory towards becoming a global manufacturing hub. As policies continue to evolve and simplifications take effect, India is primed for transformative growth in the coming years.
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