Davos [Switzerland], January 22 : Union Minister Ashwini Vaishnaw on Wednesday described how India, after 60 years, has finally made a significant mark in the semiconductor industry. The Minister stated that one of the four semiconductor plants currently in pilot production is set to begin full operations by last week in February.
Explaining the strategy behind these deals, Ashwini Vaishnaw said, "Regarding the four plants that started pilot production in the semiconductor sector, one of them will start commercial production by the last week of February. "
Reflecting on the nation's progress, he shared, "This is a matter of great pride for the country, and it is the result of the Prime Minister's focused execution, demonstrating how, after 60 years, India has finally made a significant mark in the semiconductor industry."
He further added, Rare earths are a very complex value chain, involving contributions from many countries around the world. India has entered into several collaborations in this complex value chain. There are collaborations with the US, Europe, Germany, Japan, South Korea, and Singapore. These collaborations aim to create an ecosystem that ensures India's continued growth."
Union Minister Ashwini Vaishnaw also stressed that India is poised to become the world's third-largest economy in the next few years, driven by a decade of "well thought-through" structural changes and focused execution.
Speaking at the World Economic Forum 2026, Union Minister Vaishnaw outlined a trajectory where the nation is expected to maintain a real growth rate of six to eight per cent. He attributed this momentum to four strategic pillars: massive public investment in physical, digital, and social infrastructure; inclusive growth ensuring the "entire society grows alongwith the growth of the country"; a push for manufacturing and innovation; and a rigorous drive toward simplification.
"All this, combined with the base of technology that we have put in, we can very clearly say that India is going to grow with 95 per cent confidence interval in the next five years," Vaishnaw stated, highlighting that the "security of the poorest comes as a priority."
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