The year 2023 will be the year of semiconductor story in India and around 50-55 design startups would come up to design fabs, Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology said.

Speaking at a Twitter Space on Thursday night, Chandrasekhar said, whether world’s biggest semiconductor manufacturers like TSMC (Taiwan), Samsung or Intel come, the government is certainly in touch with them and eventually they would come to India.

“I think whether TSMC and Intel or Samsung come, I’m no one to predict that right now, but we are certainly in touch with all of them. They certainly understand where India is going, geopolitically and from a market and consumption point of view, one of the largest potential markets in the world,” he said while interacting with several startups.

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He said all these companies understand all that and some of the decisions will be taken at a right time and a right place.

“...I just want to tell you regardless of whether those three (TSMC, Samsung and Intel) sign up to invest in India, in the short term or not, the Indian semiconductor journey is going to begin in 2023. We are going to ground break a fab (very soon), we are going to create packaging units in India and by the end of 2023 financial year, I think there will be more than 50-55 design startups in India that are doing device designs,” he further said.

“We will be taking out a large number in 2023-24 (design centres). I think India as a semiconductor nation, narrative, capability, competence...all are already underway. Now, whether the big guys are going to join in that ride in 2023-24 or 2025, I am pretty confident eventually they will” he added.

Earlier this week, Ashwini Vaishnaw, Minister of Railways, Communications and Electronics and IT also had said that India would declare its first fab in the coming few weeks.

“Today electronics manufacturing is close to $87 billion as an industry in the country. The government has taken three major initiatives -- creating the ecosystem, laying out a clear policy framework -- and focusing on developing the semiconductor industry. India would declare the first fab in the coming weeks. With the work being done by industry and the government today, India will have a vibrant semiconductor industry in the coming three-four years,” he said.