First made-in-India chip to launch in December: Ashwini Vaishnaw
Union Minister Ashwini Vaishnaw announced that India's first domestically produced semiconductor chip will be launched in December 2024. He praised Prime Minister Narendra Modi for the rapid growth of the nation's semiconductor sector. Speaking at the World Economic Forum's Annual Meeting 2024, Vaishnaw emphasized Modi's dedication to building a comprehensive ecosystem for the industry, which has received praise from global representatives.
Semiconductor policy and MoUs
Vaishnaw shared that PM Modi introduced a semiconductor policy in January 2022, leading to significant advancements in a short time. The policy focuses on talent development, with 104 universities signing Memorandum of Understanding (MoUs) to update course curricula and encourage design through a separate investment scheme. Numerous design companies have benefited from this strategy, gradually climbing the value chain and drawing international interest.
Robust ecosystem has led to industry growth
Vaishnaw also attributed the growth of the semiconductor industry here, to a comprehensive ecosystem under the current Union government. "Not many countries have this kind of policy and therefore they could not get such success," he said.
Macron facility progress and long-term vision
The minister pointed to the Macron facility as an example of swift progress, with construction beginning in September 2023, and the first locally-made chip set to debut by 2024-end. Vaishnaw credited this achievement to PM Modi's long-term vision for various sectors, including defense manufacturing and infrastructure investment. Highlighting the Centre's clarity in policy and intent, Vaishnaw also claimed that investment bankers, manufacturing CEOs, and semiconductor business heads now agree that India "has developed a very strong semiconductor industry."
