Ashwini Vaishnaw, Minister of Railways, Communications and Electronics and Information Technology, has said that the central government is open to investing more in the ‘India Semiconductor Mission’ as per the requirement. Speaking at a World Economic Forum session in Davos, he further noted that the recently proposed investment of $10 billion (Rs 760 billion) was just the first tranche of investment.
Meanwhile, Vaishnaw stated that it took almost 60 years for the semiconductor industry to grow to $500-$600 billion. According to him, the semiconductor industry is poised reach $1 trillion mark in the next 5-6 years. The minister also informed that new plants to be set up under the semiconductor mission will be served and serviced by green energy, while adding that India was on track to become a major telecom equipment exporter within the next three years.