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For a country to export at scale, it will also need to import several components, Pankaj Mahindroo, the chairman of the India Cellular and Electronics Association (ICEA), has said. Participating in a panel discussion at the CNBC-TV18 and Moneycontrol UP Tech Next Electronics and Semiconductor Summit on December 2 in Lucknow, Mahindroo cited the example of China, which imports components worth $700 billion to export electronics worth $1 trillion.

The semiconductor narrative today is dangerously narrow. Industry discourse is dominated by nanometer milestones 3nm today, 2nm tomorrow as if smaller nodes alone define technological relevance. But while much of the world is caught in this tunnel vision, India is charting a path that is not about compromise, but strategic clarity. By establishing commercial production capabilities at 28nm and 90nm nodes, India is not playing catch-up, it’s rewriting the rules of the race.

India’s semiconductor aspirations are taking a new dimension. The Semiconductor Mission 2.0, will pivot India from a fab-first mindset to an end-to-end semiconductor strategy, said joint secretary at the Ministry of Electronics and Information Technology, Sushil Pal. However, right steps towards talent development will be key to success.

Recently, Union minister Ashwini Vaishnaw said that India’s chipmaking capabilities are set to be at par with US, China, and other major producers by 2032. The India Semiconductor Mission with $10 billion outlay boosts local manufacturing, design, and talent.

An acute global shortage of memory chips is forcing artificial intelligence and consumer electronic companies to fight for dwindling supplies, as prices soar for unglamorous but essential components that allow devices to store data.