India’s technology minister said the nation’s chipmaking capabilities are set to be at par with other major producers by 2032, an aggressive timeline that underscores the government’s urge to bolster domestic manufacturing.

“In case of semiconductors, by 2031-2032 — in that timeframe we will be equivalent to what many of these countries are at today,” Technology Minister Ashwini Vaishnaw told Bloomberg’s New Economy Forum in Singapore Thursday. “Then it’ll be a race which will be very fair and a level playing field.”

India’s semiconductor push is in early stages, with the country boosting spending to attract designers and manufacturers. The world’s most populous nation has used a $10 billion fund to fuel its chip program, helping to bring about several assembly, packaging and testing ven

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