(MENAFN- KNN India)
Bengaluru, Oct 7 (KNN)
Union Minister for Electronics and IT, Ashwini Vaishnaw, has announced that Micron technology is set to roll out its first made-in-India chips by early 2025.
Speaking at a recent event, Vaishnaw highlighted the unprecedented enthusiasm from tech leaders during a roundtable discussion in New York with Prime Minister Narendra Modi. He emphasized that three major executives noted they had not observed such fervor for any nation in the past 35 to 40 years.
The Indian government has approved five Semiconductor manufacturing proposals, amounting to a substantial investment of approximately ₹1.52 lakh crore.
“The construction of the CG Power semiconductor facility is progressing well, and Tata's ATMP facility in Assam is also advancing smoothly,” Vaishnaw remarked, reflecting optimism about the sector's growth.
The Minister underscored the foundational role of the semiconductor industry, noting that chips are integral to various sectors, including medical instruments, mobile phones, laptops, and automotive applications.
“The growth of this industry aligns perfectly with Prime Minister Modi's vision,” he stated. The Indian semiconductor market is projected to reach an impressive USD 64 billion by 2026, nearly tripling from its size in 2019.
In pursuit of this ambitious goal, the Central Government launched the 'Semicon India' initiative, which provides financial backing for various components of the semiconductor supply chain, including front-end fabrication units, sensors, display manufacturing, and semiconductor packaging.
Experts believe that these efforts, alongside national initiatives such as the India Semiconductor Mission (ISM), are pivotal in capturing a significant share of the global market.
They assert that by enhancing production capabilities, India is poised to emerge as a major player in the semiconductor sector, driving innovation and stimulating economic growth through job creation and technological advancement.
Earlier initiatives, such as the Digital India Mission and the telecom mission, have successfully brought technology into the hands of common citizens, enhancing the nation's digital infrastructure.
As the world increasingly relies on advanced technology, India's commitment to developing its semiconductor capabilities positions the country as a vital player in the global tech landscape, ensuring that it remains at the forefront of innovation and development.
(KNN Bureau)
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