Union Minister Ashwini Vaishnaw said on Friday that the country is already manufacturing electronic goods worth USD 76 billion and is on track to reach USD 300 billion in the near future. He also mentioned that developing a semiconductor industry is not a sprint but a marathon and that the govt is for it .
"In electronics manufacturing, we have already reached USD 76 billion and are on our way to USD 300 billion. Because of the rapid growth of smartphone usage and the 5G industry, semiconductors will experience explosive growth in the coming years "Vaishnaw, who is in charge of both the Electronics and Communications and Railways portfolios, spoke at the Semicon India2022 opening session.
He stated, "In order to develop a semiconductor industry, we must first develop a semiconductor industry." "We are prepared to carry out the required actions. We are prepared for the long-term development of the semiconductor industry, which will require a genuine partnership between industry, government, academia, and research." The Union Minister noted that several countries are providing incentives to the semiconductor industry, and that India has provided a significant incentive.
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