Vaishnaw emphasized that India is poised to become a significant player in the global semiconductor market.
"We are starting the production of semiconductor chips now. We have already approved the construction of six semiconductor manufacturing plants, and their construction is underway. The first chip produced in India will be released in 2025," he stated.
The Indian government had previously declared its intention to develop a domestic semiconductor manufacturing industry. In this regard, the authorities are actively attracting foreign companies to establish a presence in the country.
According to the Indian Semiconductor and Electronics Association, the Indian semiconductor market is expected to exceed $100 billion by 2030.