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New Delhi: The first semiconductor factory or fab will be announced in a few weeks, and India is poised for a vibrant chip industry in the next 3-4 years on the back of enabling policies and the government's firm commitment towards growing the manufacturing ecosystem, said Union Minister Ashwini Vaishnaw on Tuesday.
"Today, 99 percent of mobile phones used are made in India. This is in stark contrast to the situation 10 years ago when out of 100 phones, as much as 99 percent were imported," said the Minister for Electronics and IT during a session at CII Partnership Summit 2023.
"And, now the ecosystem is also shifting to the country. When it comes to mobile phone manufacturing India is number two in manufacturing, and number three in exports," the minister said. This year, the mobile phone exports will touch USD 9.5 -10 billion, he added.
To spur the supply side, major initiatives have been undertaken by the centre, including a sharp focus on promoting the ecosystem and ensuring a clearly laid out policy framework that is stable and consistent, according to him.
"The government is focused on creating and fostering the semiconductor industry and has been actively engaging with all stakeholders. The government is committed to do what's required to succeed," the minister said.
Given the progress on all fronts in India's semiconductor blueprint, "we should see a vibrant semiconductor industry in the coming 3-4 years," he noted. India's strategy of pursuing a combination of focused consumption and public investment path has led to sustainable growth and moderate inflation, the minister said.
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