India aims to become a semiconductor leader, says IT minister at ET Startup Awards

India is positioning itself as a major player in the semiconductor industry, according to Ashwini Vaishnaw, the Union Minister for Electronics and IT. He highlighted the approval of around 25 applications for chip design, with several attracting venture capital. The government is also focusing on expanding digital public infrastructure, with successful models like UPI being adapted for healthcare and agriculture. Vaishnaw noted that India's digital economy could reach $1 trillion through advancements in IT services and electronics manufacturing. Vaishnaw emphasized the importance of talent in driving semiconductor growth, with significant manufacturing already underway. Facilities like Micron's are set to begin shipping memory chips in early 2025, marking a key milestone for India's semiconductor ambitions.