Union Electronics and Information Technology Minister Ashwini Vaishnaw has said that trust and cybersecurity are becoming increasingly important in the global semiconductor value chain, alongside cost considerations. Speaking at the Bloomberg New Economy Forum in New Delhi today Mr Vaishnaw said that India aims to position itself as a trusted partner in semiconductor design, manufacturing and testing of finished products. The Minister emphasised that developing a complete ecosystem is essential for sustainable manufacturing. 

 

Citing the mobile phone industry, Mr. Vaishnaw said India initially focused on assembly before expanding into module and component manufacturing. He added that the country is now manufacturing components to meet domestic demand and has also started exporting them. The Minister said India is following a similar approach to develop its semiconductor, railway and defence manufacturing ecosystems

 

Mr Vaishnaw has said that India is strengthening its economy. He said that India’s public debt-to-GDP ratio has declined from 61% to 55% over the past five years. The Minister  emphasised that the country aims to build resilience across the financial, economic and technological sectors. Mr. Vaishnaw said that the government is working to strengthen the domestic economy and reduce its vulnerability to global uncertainties to ensure sustained growth even during turbulent times.