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"The agreement was signed in June 2023, while construction started in September 2023 and the first made-in-India chip will be out in December 2024," he said.
Davos: The first made-in-India chip will be out by December, Union Minister Ashwini Vaishnaw said here, crediting Prime Minister Narendra Modi for developing a very strong semiconductor industry in the country in a short span of time with focus on the entire ecosystem.
Speaking at the World Economic Forum Annual Meeting 2024, the minister said PM Modi launched a semiconductor policy in January 2022, adding that when he met senior representatives of the industry here, the one thing they all were surprised about was how this much work could be done in such a short time.
"They all appreciated the policy and the fact that PM Modi has always stressed on creating a comprehensive ecosystem because not many countries have this kind of policy and therefore they could not get such success," he said.
The Minister for Communications as well as Electronics and Information Technology said the prime minister has always focussed on developing an ecosystem where there is a lot of focus on talent.
"MoUs (Memoranda of Understanding) with 104 universities are already in place, their course curriculum are being revised, there is a lot of focus on design with a separate investment scheme.
"Many design companies have got the benefit and they are gradually coming up in the value chain. All of this is getting appreciated a lot by companies from the world over," he said.
Giving the example of Macron, Vaishnaw said the way the Macron facility has moved ahead so fast, everyone has been pleasantly surprised.
"The agreement was signed in June 2023, while construction started in September 2023 and the first made-in-India chip will be out in December 2024," he said.
"All manufacturing CEOs, investment bankers and semiconductor business heads are acknowledging these factors here at Davos and are saying that India has developed a very strong semiconductor industry," the minister said.
Talking about why developing this industry did not get much attention earlier, Vaishnaw said Modi's thought process is always focussed on a long-term vision, be it defence manufacturing, infrastructure investment or reforms across sectors.
"He always thinks with a vision of at least 10 years, 20 years, 30 years, and 50 years. His idea is that anything being done today should yield results for many years for the country," he added.
The minister said earlier governments generally had a short-sightedness and they used to think from election to election.
"Also, the clarity that is required in 'niti' and 'neeyat' is there now. All of this is leading to the good work that is happening in India and the entire world is appreciating it," he said.
