Wednesday, June 12, 2024

India to lead in electronics, tech: Vaishnaw  – Technology News

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Ashwini Vaishnaw, who took charge of the ministry of electronics and information technology (MeitY) on Tuesday, said the government will create a strong foundation for the country to take lead in electronics, semiconductor and technology areas.

“We have to keep building so that India can stand equal with other countries when it comes to technology,” Vaishnaw told reporters. With Vaishnaw, Jitin Prasada, minister of state for electronics and IT, has also assumed charge.

MeitY under Vaishnaw launched the Rs 76,000 crore India Semiconductor Mission to pave the way for chip manufacturing in the country, which is crucial to have a major share in the global value chain. The government has so far approved four chip projects, including that of Micron, two chip projects of Tata group and CG Power’s chip assembly project.

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Besides, mobile phone manufacturing has crossed Rs 4.1 trillion in FY24, compared to Rs 18,900 crore in FY15, when 98% of local demand was met through imports. 

Vaishnaw said over the last 10 years the government’s Digital India initiative has empowered the common man, bringing transformative changes through Jan Dhan, Aadhaar, and other programmes.

For Vaishnaw, the implementation of the digital personal data protection (DPDP) Act, Rs 10,000 crore IndiaAI mission, the new component manufacturing scheme, and framework around the semiconductor scheme with a fresh outlay will be the focus.

Further, facilitating the big tech firms to set up mega campuses in the country, which will have a cluster of factories producing a range of products, will be a key agenda.

Industry executives said Vaishnaw’s appointment will assure policy certainty as well as ensure sound decision making.

“An architect for the semiconductor manufacturing movement of the country, minister Vaishnaw has played an instrumental role in creating a well-oiled ecosystem enabling exports of electronics from India,” said Ajai Chowdhry, co-founder HCL, chairman of EPIC Foundation and chairman of mission governing board, National Quantum.

“The next five years will play a decisive role in shaping the next few decades for electronics product design and manufacturing in India. If we want to be a product nation and compete directly with China to cater to the global electronics market, the country will need to put forth its best minds who understand business, Chowdhry added.

With regard to the immediate task, MeitY is expected to soon release the rules to implement the DPDP Act for public consultation and come up with a framework on the new component manufacturing scheme.

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