According to Ashwini Vaishnaw, Union Minister of Communications, Electronics and Information Technology and Railways, the first semiconductor fabrication unit in India will be announced in the next few weeks. The semiconductor program will reflect on the demand of electronics manufacturing that is taking off in India.

Speaking at the Confederation of Indian Industry (CII) Partnership Summit 2023, Vaishnaw informed that the electronics manufacturing industry in India is expected to touch $87 billionm with mobile phone exports of $9.5-10 billion in 2023, as 99% of the smartphones sold locally are made in India.