Union Minister Rajeev Chandrasekhar participated in a fireside chat with AMD India’s Smt Jaya Jagadish during the 26th Bengaluru Tech Summit. The Minister delved into India’s semiconductor industry, AI, and the pivotal role startups have in the country’s economic growth.
Reflecting on the Semicon India 2023 Summit, Minister Rajeev Chandrasekhar highlighted India’s evolving narrative as emphasized by Prime Minister Narendra Modi.
According to him, the 2023 Semicon India summit marked a shift in attitudes from “why India” to “when and why not in India.” He credited this shift to the increasing confidence and capabilities of India’s tech ecosystem. Over the last five to seven years, India’s tech economy has made significant strides in AI, semiconductors, electronics, Web 3, and high-performance computing.
Acknowledging India’s rapid progress in semiconductors despite a lack of design legacy, the Minister expressed that the country is catching up and exploring new opportunities for the next decade. He stressed the tremendous strides made in talent, design, packaging, and research, positioning India as a semiconductor hub.
Minister Chandrasekhar highlighted the government’s approach to leveraging AI in healthcare, agriculture, and governance. While emphasizing AI’s vast opportunities, he stressed the need for legislative frameworks to ensure safety and trust, mitigating potential misuse.
Regarding startups’ pivotal role in India’s economy, he emphasized their contribution, pointing out the emergence of numerous unicorns and substantial FDI. He underscored the significant impact startups have on the digital economy, believing that the startups supported today possess the potential to become future unicorns, contributing significantly to India’s $1 trillion digital economy goal.