Indian electronics exports hit $40 bn: Union Minister Ashwini Vaishnaw
electronics exports
have soared past $40 billion, marking an eight-fold growth during the last 11 years, Union Minister
Ashwini Vaishnaw
said on Saturday.
He also highlighted that the domestic electronics production has gone up by six times.
Addressing the 14th Convocation of IIT Hyderabad, near here, Vaishnaw also emphasised the rapid progress of India's first bullet train project, which is expected to become operational by August or September 2027.
Looking ahead, Vaishnaw said the first Made in India semiconductor chip, on a commercial scale, will be manufactured this year. He expressed confidence that India is on track to become one of the top five semiconductor nations in the world in the coming years, citing its increasing focus on capital equipment and the materials required for semiconductors.
"In just 11 years, we have increased our electronics production six times. That's a CAGR double digit which any corporate would be envious of. We have increased our exports eight times, crossed $40 billion exports in electronics manufacturing, which is a phenomenal pace of growth, something which very few countries of our size have ever seen," the Union Minister for Railways, Information & Broadcasting, Electronics & Information Technology said.
He attributed this growth to the vision of Prime Minister Narendra Modi and noted that in just about three and a half years, India could design a complete 4G telecom stack. Today, it is installed on almost 90,000 telecom towers, which is more than the network of many countries in the world.
As part of the telecom initiative, the government has set up 100 5G labs where the students can get hands-on experience of the 5G equipment, allowing them to work on real-world use cases and develop practical solutions, the IT Minister said.
He cited five examples of India's growth story and bases for the next generations-- electronics production, AI, semiconductors, telecom sector and railways.
To cultivate talent in the semiconductor field, the Centre has given the latest EDA tools from Cadence, Synopsys, and Siemens to about 270 colleges and institutions and if the startups are added the number becomes 340, he said.
"Nowhere in the world has such a large talent development program ever taken up in the field of semiconductors," Vaishnaw said.
The Indian Railways already has version three of Vande Bharat at this point of time getting manufactured at the Integral Coach Factory in Chennai, he said.
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