India is targeting a dramatic leap in its semiconductor capabilities, with plans to reach parity with major chipmaking nations by 2032, Technology Minister Ashwini Vaishnaw told Bloomberg’s New Economy Forum in Singapore on Thursday. “In case of semiconductors, by 2031-2032 — in that timeframe we will be equivalent to what many of these countries are at today,” Vaishnaw said, emphasizing that India aims to compete on a level playing field in the global chip industry.
The country’s semiconductor ambitions are in their early stages, supported by a $10 billion government fund designed to attract designers and manufacturers. This initiative has already enabled several assembly, packaging, and testing ventures, including a Micron Technology Inc. plant in Gujarat, Prime Minister Narendra Modi’s home state. India’s conglomerates, including Tata Group, are among ten domestic producers planning to fabricate silicon locally. Three chip facilities are expected to begin commercial production early next year, Vaishnaw added.
Despite the push, India remains far behind established leaders such as Taiwan, South Korea, and other major players including the U.S., China, and Japan, which are collectively investing hundreds of billions of dollars to expand domestic chipmaking capacity. These investments are seen as critical for securing components essential to future technologies, from artificial intelligence to autonomous vehicles.
Vaishnaw highlighted that India’s combination of state-backed semiconductor programs, a growing design ecosystem, and a deep pool of engineering talent is creating conditions where private capital is beginning to flow independently. The government hopes to replicate the success of Apple Inc. and its partners, which have been drawn to India through state-backed incentives to manufacture iPhones, leveraging subsidies and strategic support to encourage the entry of global chip giants into the country.
