The country’s first electronic chip manufacturing plant is expected to be in place within a year, according to Union Telecom and IT Minister Ashwini Vaishnaw.

The government has initially earmarked $ 10 billion incentive for setting up a semiconductor manufacturing ecosystem in the country including a wafer fabrication plant. The wafer fabrication plants are the first building block of physical chips that are used in all high-tech electronic products.

“We are focussing on some niche area where we can take global leadership. Telecom and EV (electric vehicles) have emerged as a big segment for semiconductors. If we focus on developing and manufacturing chips used in these segments then we can become global leaders in these two segments,” Vaishnaw told reporter.