$10 bn chipmaking push: Semiconductor sector will be on par with US by 2032, says Vaishnaw; calls it ‘very fair race’

Within the next one decade, the Indian semiconductor industry is expected to come at par with global chipmaking leaders like the US and China. Union minister Ashwini Vaishnaw on Thursday outlined the government's most ambitious technology targets, saying that the country’s plans for the sector have advanced far more quickly than anticipated. Speaking at Bloomberg’s New Economy Forum in Singapore, he pointed to the $10 billion semiconductor incentive scheme, designed to build manufacturing, assembly and design capacity, as the foundation for this push. “In case of semiconductors, by 2031-2032 — in that timeframe we will be equivalent to what many of these countries are at today,” he said. “Then it’ll be a race which will be very fair and a level playing field,” ET reported citi