India set to achieve chipmaking parity with major producers by 2032: Vaishnaw

Core Insights - India's semiconductor capabilities are projected to match those of major producers by 2032, reflecting the government's commitment to enhance domestic manufacturing [1][2] - The Indian government has allocated a $10 billion fund to support its semiconductor program, which includes initiatives for assembly, packaging, and testing [1][2] - India aims to attract global chip manufacturers, similar to how state-backed subsidies have drawn Apple Inc. to produce iPhones in the country [3] Industry Overview - India is currently behind industry leaders like Taiwan and South Korea, as well as the US, China, and Japan, which are investing heavily in domestic chip production [2] - The Indian semiconductor initiative is in its early stages, with three chip facilities expected to commence commercial production in early 2026 [2][3] - The combination of state support and a robust engineering talent pool is expected to facilitate private capital investment in India's semiconductor sector [3]