World Economic Forum 2024: Ashwini Vaishnaw says India will be a major semiconductor destination in next 5 yrs

He underscored India’s commitment to talent development and the ambitious goal of designing the entire chip.

Within a short span of nearly 24 months, India has forged partnerships with 104 universities, undertaken a comprehensive redesign of the course curriculum, and collaborated with renowned international institutions, such as the University of Purdue.

“In the coming five years, India will become a major semiconductor destination. The way the world is developing trust in India, that trust is major because of the way our foreign policy has been conducted by our Prime Minister,” Vaishnaw was quoted as saying by Moneycontrol.

These strategic alliances are poised to provide substantial impetus to India's semiconductor mission.

Vaishnaw underscored India's suitability for semiconductor development, citing a vast talent pool that includes nearly 3 lakh design engineers responsible for crafting intricate chips manufactured globally.

India's vision extends beyond talent development to establishing a complete semiconductor ecosystem, covering design capabilities, and the software and hardware components of manufacturing.

As part of the semiconductor mission, India is dedicated to nurturing 85,000 talents, spanning engineers, BTech, MTech, PhD candidates, and technicians proficient in managing clean rooms and operating machinery across the entire spectrum of semiconductor production.

Vaishnaw identified trust as India's most significant asset and highlighted the substantial trust the world has vested in the country.

To strengthen global collaborations, India has signed a Memorandum of Cooperation with the United States, Europe, and Japan.

Active engagements with the South Korean government and companies further underscore India's commitment to advancing semiconductor capabilities.

In an interview with Moneycontrol, he said Prime Minister Narendra Modi has very clearly said that the semiconductor industry is a 20-year journey. "So, it's a long haul; we must keep working step-by-step. His focus has always been on developing the entire ecosystem."