During the 21st edition of the Hindustan Times Leadership Summit, Ashwini Vaishnaw, the Union Minister for Electronics and Information Technology, outlined India’s core strengths, growth potential, and key initiatives in the semiconductor and technology sectors. He also expressed his expectation that the global semiconductor market will double in the next 6-7 years, surpassing a trillion dollars in value.
India’s First Strength: Design Prowess
- Vaishnaw highlighted India’s first major strength, its expertise in semiconductor design.
- With a burgeoning pool of talented engineers and tech professionals, India has consistently shown its ability to innovate and excel in cutting-edge technology design.
- The country’s emphasis on research and development, combined with a burgeoning tech ecosystem, makes it well-positioned to contribute significantly to semiconductor design.
India’s Second Strength: Clean and Green Power
- The second strength is India’s commitment to clean and green power sources.
- In an era where sustainability is paramount, India’s focus on renewable energy and environmentally friendly power generation aligns with global trends.
- This transition towards cleaner energy sources not only benefits the environment but also ensures a stable and sustainable power supply for the semiconductor manufacturing process.
India’s Third Strength: Expertise in Handling Complex Liquids and Chemicals
- India’s ability to handle complex liquids and chemicals represents the third pillar of strength.
- Semiconductor manufacturing involves intricate processes with various chemicals and materials, and India’s capability in this area showcases its potential to emerge as a leading manufacturing hub.
- Precision and expertise in handling these substances are vital for producing high-quality semiconductor products.
Expectations for the Semiconductor Market
- Ashwini Vaishnaw anticipates that the global semiconductor market will double in the next 6-7 years, surpassing a trillion dollars in value.
- This growth provides a unique opportunity for India to play a pivotal role in this expanding sector.
Skilling 80,000 Individuals
- To harness the potential of the semiconductor industry, the Indian government is planning to skill 80,000 individuals to equip them with the necessary talent and expertise required for the semiconductor ecosystem.
- This initiative is expected to significantly contribute to India’s leadership in the sector and create numerous employment opportunities.
World-Class Fab Facilities
- Vaishnaw’s announcement of at least two large fabrication facilities offering “world-class technology” is a major step forward.
- These facilities will not only boost India’s domestic manufacturing capabilities but also attract global semiconductor players to invest in the country.
- The ongoing construction of a facility by US-based Micron exemplifies the speed at which India’s semiconductor ecosystem is evolving.
Homegrown 4G and 5G Technology
- Moreover, India’s homegrown 4G and 5G technology stack is nearing completion, with plans to launch it around Diwali. This paves the way for the nation to become an exporter of telecom technology.
- Vaishnaw anticipates that India will begin exporting telecom technology by the upcoming Diwali, emphasizing that India already exports technology equipment to 70 countries.