In a strategic move to position India as a global leader in electronics, semiconductors, and technology, Ashwini Vaishnaw, the newly appointed Minister of Electronics and Information Technology (MeitY), has outlined a robust vision for the sector. Vaishnaw, alongside Jitin Prasada, Minister of State for Electronics and IT, aims to build a strong technological foundation for India.
“We must keep building so that India can stand equal with other countries in technology,” Vaishnaw emphasised to reporters. This statement underscores the government’s commitment to fostering a competitive tech landscape in India.
A significant milestone in this endeavour is the Rs 76,000 crore India Semiconductor Mission launched by MeitY under Vaishnaw’s leadership. This initiative aims to establish chip manufacturing capabilities within the country, which is pivotal for securing a substantial share in the global value chain. The government has already approved four chip projects, including ventures by Micron, Tata Group, and CG Power, marking a strategic step towards self-reliance in semiconductor manufacturing.
The progress in mobile phone manufacturing also highlights India’s tech advancements. The sector’s output soared to Rs 4.1 trillion in FY24, a monumental leap from Rs 18,900 crore in FY15 when 98% of local demand was met through imports. This growth trajectory is a testament to the successful implementation of the Digital India initiative over the past decade, which has empowered citizens through transformative programmes like Jan Dhan and Aadhaar.
Vaishnaw has identified key priorities, including the implementation of the Digital Personal Data Protection (DPDP) Act, the Rs 10,000 crore IndiaAI mission, and a new component manufacturing scheme. Additionally, refining the semiconductor scheme with a fresh outlay remains a critical focus area.
Furthermore, the ministry plans to facilitate the establishment of mega campuses by major tech firms, creating clusters of factories producing a diverse range of products. This strategy is expected to bolster India’s manufacturing capabilities and attract significant investments.
Industry executives have welcomed Vaishnaw’s appointment, recognising his instrumental role in shaping the semiconductor manufacturing movement in India. “An architect for the semiconductor manufacturing movement of the country, Minister Vaishnaw has played an instrumental role in creating a well-oiled ecosystem enabling exports of electronics from India,” industry sources noted. This endorsement reflects the industry’s confidence in Vaishnaw’s leadership and the anticipated policy stability under his tenure.
As India moves forward with these initiatives, the nation’s aspiration to lead in the global tech arena seems increasingly attainable. With a clear focus on innovation, infrastructure, and strategic policy-making, Vaishnaw’s vision is set to drive India’s technological renaissance.
