Will India be able to emerge as a global hub in semiconductor manufacturing in the coming years? Prime Minister Narendra Modi last month laid foundation stone of three semiconductor projects – two of them in Gujarat and one in Assam – worth around Rs.1.25 lakh crore. These three proposals had been approved on February 19 and now the Government has committed to get them started within 100 days, which is a best in class industry benchmark.

From smart phones to missiles, semiconductor chips are used in a range of electronic devices, and currently the government is leaving no stone unturned to woo leading global chip making companies to set up operations in the country. While some sceptics point out that it will not be an easy task for India to be a global power in the semiconductor sector, the amount of effort our government is putting into it is really commendable.

According to a recent report, India’s mobile phone production increased from Rs 18,900 crore in 2014-15 to an estimated Rs 4,10,000 crore in FY'24 – a whopping 2000 percent – while it is expected that mobile phone exports will grow by 7500 percent over a decade to reach Rs 1,20,000 crore in FY24. The government has played an instrumental role in this long journey and there is no reason why the same cannot happen with semiconductor manufacturing.

Recently, the PM had conversation with several leading gaming creators. This is, no doubt, an acknowledgment of the growing importance of the sector. The Indian gaming industry – with a huge audience of 450-550 million players - generated $3.1 billion in revenue in FY23 and it is expected to reach Rs 231 billion by 2025. This is another sector where India will be able to make a difference, if adequate measures are taken.

I invite your opinions.