New Delhi, Mar 2 (KNN) Investment in India's domestic semiconductor space is poised to skyrocket, reaching at least five times its current value to 7.5 lakh crore by 2028.

Ashwini Vaishnaw, Minister for Electronics and IT, Communications, and Railways, revealed this ambitious projection, positioning India among the top five semiconductor manufacturing nations globally.

Vaishnaw emphasised the government's steadfast commitment to executing India's inaugural semiconductor fab project, spearheaded by the Tata Group, alongside two additional chip assembly proposals, all slated for rapid implementation.

In an exclusive interview with ET, Vaishnaw outlined the government's strategy to expedite the deployment of Telecommunications Bill rules, including provisions for right of way and user protection, with immediate effect. 

He indicated that the subsequent set of rules, requiring public consultations, would be announced following the upcoming general elections in April-May. 

Furthermore, Vaishnaw assured the imminent approval of Starlink's satellite web service, underscoring India's openness to embrace cutting-edge technologies.

The recent Cabinet approval of three seminal proposals marks a pivotal milestone in laying the groundwork for India's burgeoning semiconductor industry. 

Vaishnaw highlighted the significance of these initiatives, envisioning a comprehensive value chain encompassing design, fabrication, assembly, testing, marking, and packaging. 

Notably, with the ongoing construction of Micron's project and the addition of these three endeavours, India stands poised to achieve a holistic spectrum of chip functionalities, spanning high-power computing, telecommunications, power management, as well as specialised applications in space exploration, defence, and high-speed transportation.

Vaishnaw articulated the pivotal role of these endeavours in fostering a conducive ecosystem for semiconductor manufacturing, akin to the evolution witnessed in the automobile industry. 

With an influx of ancillary companies specialising in chemicals, gases, equipment, and components, India is primed to capitalise on a well-established technological base, facilitating a seamless learning curve for future endeavours in the semiconductor domain. 

(KNN Bureau)