During last week's three-day SemiconIndia conference in Gandhinagar, Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, stressed on the progress made in the semiconductor sector in the last 15 months. And rightly so. From Micron Technology to Applied Materials, and now AMD and Foxconn, global tech giants who were present at the conference, are pouring investments into the growing semiconductor market in India. In an exclusive conversation with Forbes India, Chandrasekhar spoke about the government’s plan to build semiconductor expertise in India, funding new startups, execution challenges, and more. Edited excerpts:
Q. India has surpassed China's population, but can we replace China as the world's factory?
Unfortunately India, in the many decades before 2014, missed the opportunities in electronics and semiconductors through a combination of lack of political vision, incompetence, and negligence. Since 2014, Prime Minister Narendra Modi has, through governance, policies, and financial resources, built a vibrant, fast-growing electronics ecosystem, and similarly, in early 2022, he embarked on catalysing the semiconductor ecosystem. Over the last 15 months, the pace and the milestones achieved have led us and the world to look at India as a trusted and growing partner in global electronics and semiconductors. I have no doubt that in the next decade India will achieve expertise in electronics and semiconductors manufacturing, but China took 30 years to do so, spent $200 billion, and yet failed in semiconductors.