During a discussion with IT industry leaders, he noted that due to Prime Minister Narendra Modi’s strategic emphasis on the semiconductor sector, 12 manufacturing plants are currently in various stages of development, with three already producing chips.
These chips are being shipped to Japan, the United States, and Europe, he added.
“The global talent shortage in the semiconductor industry is estimated to be around one million,” the Union Minister for IT and Electronics stated.
He emphasized that the IT sector in India is well-positioned to take full advantage of this opportunity, having the expertise in designing and innovating new solutions in electronics and information technology.
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To bolster the industry, the Central Government has equipped 315 universities with the latest semiconductor design tools. He mentioned that electronics exports have now become the third largest export category for the country, with mobile phones emerging as the top export item from India.
“Last year, electronics exports reached the third largest category in our country, a feat we could hardly have anticipated a few years back. This transformation has already taken place,” he stated.
Vaishnaw, who also oversees the Railways portfolio, highlighted the Centre’s initiatives in railway advancements, including bullet trains, station redevelopment, and Vande Bharat trains, pointing out that over 1,000 railway stations are undergoing redevelopment.
