Sensing a huge opportunity in the global semiconductor market, India has set in motion an ambitious plan to become a key supplier for the world with the government itself putting in $10 billion, Communications Minister Ashwini Vaishnaw said on Thursday.

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Speaking at a session on ’Learning from semiconductor supply shocks’ at the World Economic Forum Annual Meeting 2023, the minister said there is a very large market that requires semiconductors and India has a huge potential in terms of infrastructure, talent pool and technology.

”Our university system that produces a large number of talent is also helping a lot as we have tied up with many universities to prepare right talent,” he said.

Asked about the government’s own investment plans, he said the government itself is putting in $10 billion and it has chalked out a long haul programme.

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"We see a huge potential for India to become a key semiconductor supplier for the entire world, that too for the latest requirements including for electric vehicles and for all cutting-edge technologies. We are convinced that the demand is going to be huge,” he added.

”The industry is going to double in size to $1 trillion in the next 6-7 years with the growth rate set to accelerate in a big way,” he added.

Vaishnaw also said the government is mindful of the environment and it will ensure that the new factories are supplied with green energy.

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