September 25, 2023
The manufacturing cost of mobile phones in India was INR 17,000 crores in 2014. Today, it has surged to INR 3.65 trillion
The electronics industry, once valued at INR 1.90 trillion, has expanded to be worth INR 8.3 trillion
Exports have increased fivefold, rising from INR 40,000 crores to INR 2 trillion
On June 22, global semiconductor giant Micron announced plans to invest US$ 825 million in constructing a new assembly and test facility in Gujarat
India’s initial domestically produced microchips are expected to roll out by December 2024, according to Ashwini Vaishnaw, the Union Minister for Electronics and Information Technology, while examining the country’s first Semiconductor Plant in Gujarat.
Vaishnav mentioned that in 2014, the manufacturing cost of mobile phones in India was INR 17,000 crores. Today, it has surged to INR 3.65 trillion. The electronics industry, once valued at INR 1.90 trillion, has expanded to be worth INR 8.3 trillion. He also noted that exports have increased fivefold, from INR 40,000 crores to INR 2 trillion.
Vaishnaw attributed these advancements to semiconductor chips, asserting that India is poised to become a major semiconductor hub. The semiconductor mission, launched in December 2021, aims to establish India as a significant player in semiconductor technology.
In line with this vision, on June 22, global semiconductor giant Micron announced plans to invest US$ 825 million in constructing a new assembly and test facility in Gujarat. Situated in the Sanand Industrial Park, Gujarat Industrial Development Corporation (GIDC), the facility is strategically positioned to meet domestic and international demand, benefiting from Gujarat’s robust manufacturing infrastructure, favourable business environment, and skilled talent pool.
This development reaffirms India’s commitment to self-reliance and growing prominence in the global semiconductor arena, aligning with the government’s vision of a technologically advanced and self-sufficient India.
Source: Economic Times