Key Points
The country's first electronic chip manufacturing plant is expected to be in place within a year, according to Union Telecom and IT Minister Aswhini Vaishnaw..
The government has initially earmarked USD 10 billion incentive for setting up a semiconductor manufacturing ecosystem in the country including a wafer fabrication plant..
The wafer fabrication plants are the first building block of physical chips that are used in all high-tech electronic products...
He said that with the success of US-based storage chip maker Micron's investment in India, the entire world has become very comfortable about India's capability...
Vaishnaw said that the government is working on making some 4-5 components where India can become a global hub to meet not only domestic requirements but also export to the rest of the world...
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