Electronic Component Manufacturing Growing Rapidly, 46 Approvals Granted: Minister

(MENAFN- IANS) New Delhi, Feb 8 (IANS) The manufacturing of electronic components is growing rapidly and 46 approvals have been granted - with Karnataka is set to receive investments exceeding Rs 10,000 crore, according to Union Minister Ashwini Vaishnaw.

In Budget 2026-27, Finance Minister Nirmala Sitharaman increased the budget for the electronic component manufacturing scheme from Rs 22,000 crore to Rs 40,000 crore.

This will significantly accelerate the electronics manufacturing journey.

“Our Prime Minister has set a production target of $500 billion by the 2030-2031 financial year. Therefore, we all need to move very quickly in that direction,” said Vaishnaw as he inaugurated Zetwerk Electronics' new world-class manufacturing facility for defence, automotive, and IT hardware electronics built in Bengaluru.

“Today, people are designing complete '2-nanometer' chips in India, which is a major achievement for the country, and equipment manufacturers have also started coming to India,” said Union IT Minister.

He mentioned that Applied Materials and Lam Research have been brought to India, and the next goal should be to bring ASML.

The minister further stated that commercial production will begin this year. In the coming days, the first commercially produced chip from a semiconductor plant will be in our hands.

'Semicon 2.0' will be effective, focusing on design, equipment manufacturing, chemicals, gases, validation, and yield improvement - all functions required for a sustainable semiconductor journey.

“We aim to prepare 85,000 silicon engineers over 10 years, and in four years, we have already trained 67,000. Consequently, a large part of chip design will practically happen in India. This will be a major shift in the coming years,” said Vaishnaw.

He stated that with the arrival of the 'fab,' we have now mapped a path from 28- nano meter to 7-nano meter, which will be part of Silicon 2.0.

“We believe in a cooperative system and that the country grows only when all states grow,” he added.

Vishal Chaudhary, Co-founder and Managing Director (Aerospace and Defence), Zetwerk, said that electronics manufacturing today demands deep integration across design, engineering, suppliers, and scaled production.

"This facility has been built to bring those capabilities together seamlessly, enabling faster validation, stronger quality control, and predictable, high-reliability execution across the product lifecycle," he added.

-IANS

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