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India eyes big pie of $1.5 trillion global semiconductor market in post-pandemic alignment

India is working to establish itself as a preferred destination and trusted partner for electronics and semiconductor manufacturing in the post-pandemic world.

India is working to establish itself as a preferred destination and trusted partner for electronics and semiconductor manufacturing in the post-pandemic world, and aspires to become a significant player in the $1.5 trillion global semiconductor market, Union Minister of State for Electronics and Information Technology (MeitY) Rajeev Chandrasekhar said on Thursday.

“Our electronics and semiconductors plans for the country are well underway, in line with Prime Minister Narendra Modi‘s vision of India becoming a hub for the $1.5 trillion global markets,” Chandrasekhar said on the sidelines of the India Internet Governance Forum’s (IIGF) curtain raiser event, which was organised by MeitY and the National Internet Exchange of India.

According to Chandrasekhar, the department will help businesses to become champions in semiconductor and electronic system design in order to compete worldwide, as well as build a design competency.

“We are also aiming to become a $1 trillion digital economy, which will generate new jobs, entrepreneurs, and investments,” Chandrasekhar said, adding that following the Covid-19 pandemic, the world’s behaviour had shifted, with countries seeking a trusted partner in electronics and digital solutions, which India could provide.

According to him, the Semiconductor Conference, which will be held in November this year, might serve as a springboard for electronics and semiconductor enterprises.

On data security and privacy concerns, the minister said “We want the Internet to be open and uncontrolled by large technology companies, as well as safe and trustworthy for all users, with intermediaries held accountable.”

The Data Protection Authority, once formed, he said, would bring in an “action plan on pre-installed apps” which seems to have become a matter of concern for data privacy.

Today, India has an online population of up to 800 million individuals. Chandrashekhar stated that Internet services should be accessible to a vast number of people in order for them to access public and commercial services, and should not be limited to the English language alone, since he desires an inclusive Internet.

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