During the visit at the World Economic Forum, Davos, Information Technology and Communications minister Ashwini Vaishnaw said India is poised to emerge as a crucial semiconductor chip manufacturer within the next five years as most nations consider it as a more reliable partner.

The minister said, “In the coming five years, India will become a major semiconductor destination. The way the world is developing trust in India, that trust is majorly because of the way our foreign policy has been conducted by our Prime Minister.”

While talking about government’s plan to procure GPUs for AI start-ups, the minister said, they are creating an AI mission in which the government will be investing in building compute power, ensure that the compute power is available accessible to startups and to MSMEs. He said, “we will be working in a very methodical way. The way the payment system has evolved, a similar structure we’ll try to create for AI, he added.

Moreover, the minister commented that in the coming five years, India will become a significant semiconductor destination. He added that, “the way the whole world is developing trust in India, that trust is majorly because of the way our foreign policy has been conducted by our Prime Minister”.

He also stated that, the way our Prime Minister has developed trust by meeting people, honouring commitments and intervening in the right way- all these things today, when you meet the global leaders, they tell that we really trust PM Modi’s leadership. “Many of them actually said that we are very happy that he will be coming back. So that is the kind of trust that people have very clearly endorsed. And that trust will translate into India becoming a major semiconductor destination”, he added.