PM Modi made India an electronics powerhouse in 11.5 years: Vaishnaw

Union Minister Ashwini Vaishnaw lauded PM Modi for transforming India into an electronics powerhouse, with manufacturing now worth Rs 12 lakh crore. He spoke at the groundbreaking ceremony for the HCL-Foxconn semiconductor facility in Jewar.

India's Rise as an Electronics Powerhouse

Union Minister for Electronics and Information Technology Ashwini Vaishnaw on Saturday said Prime Minister Narendra Modi has transformed India into a powerhouse in electronics over the past 11.5 years. Vaishnaw highlighted that electronics manufacturing in India has grown to Rs 12 lakh crore, making it the third-largest export sector in the country.

Addressing the ceremony of the HCL-Foxconn Joint Venture project in Jewar, Vaishnaw said, "In 11.5 years, the Prime Minister established the country as a powerhouse in electronics. Where electronics manufacturing in the country was negligible, today there is electronics manufacturing worth Rs 12 lakh crore and among the exports from India, electronics manufacturing has reached the third position."

"Semiconductors are a foundational technology. In a country with semiconductors, many types of manufacturing become possible... that work will now take place on this holy land of Jewar," he said.

HCL-Foxconn Semiconductor JV Launched in UP

Prime Minister Narendra Modi, via video conferencing, participated in the groundbreaking ceremony of the HCL-Foxconn Joint Venture project - India Chip Pvt. Ltd. - in the Yamuna Expressway Industrial Development Authority (YEIDA), Uttar Pradesh.

The establishment of the HCL-Foxconn semiconductor facility marks a significant milestone in India's journey towards technological self-reliance and reflects the Prime Minister's vision of positioning India as a trusted global destination for high-end electronics and semiconductor manufacturing, a release said.

Project Details and Objectives

This Outsourced Semiconductor Assembly and Test (OSAT) facility at YEIDA will be set up by India Chip Pvt. Ltd. under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP), with a total investment of over Rs 3,700 crore.

The project is aligned with the Government's efforts to strengthen domestic manufacturing capabilities, reduce import dependence, and build resilient global supply chains. It is expected to play a crucial role in supporting key sectors such as mobile phones, tablets, laptops, automotive, consumer electronics and other devices.

Boosting Ecosystem and Employment

"Through this initiative, India's semiconductor ecosystem will receive a major boost, fostering innovation, skill development, and technology transfer," the release said.

The facility is also expected to create thousands of direct and indirect employment opportunities to engineers, technicians, and professionals, while catalysing growth in ancillary industries, it added.

The HCL-Foxconn joint venture underscores India's growing stature in the global semiconductor landscape and represents a major step forward in building a robust and self-reliant electronics manufacturing ecosystem, the release said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)