This move aligns with Prime Minister Narendra Modi's call for 'Swadeshi' or self-reliance, encouraging the adoption of Made-in-India products to foster economic growth and innovation.
The government had initially aimed for around Rs 59,000 crore in investments under the scheme. Vaishnaw also pointed out that applications for the capital equipment segment are still open.
Ashwini Vaishnaw used Zoho Show instead of Microsoft PowerPoint for official presentation
The decision drew immediate appreciation from Zoho's CEO Sridhar Vembu who expressed gratitude for Vaishnaw's support, describing it as significant encouragement for his development team.
Apart from the 500 data labs, an AI framework will also be launched within 10 days by MeitY and the Office of the Principal Scientific Adviser.
Looking ahead, Vaishnaw said the next phase will go beyond chips to also focus on equipment and materials.
The bill proposes a 25 percent tax on certain payments to foreign firms for services consumed in the US, but experts say it is unlikely to pass in its current form.
Drawing parallels with India’s steel industry, the minister in an interview to Moneycontrol also said the semiconductor ecosystem will be the next engine of growth for job growth
Bengaluru-based AI startup Sarvam had bagged a record 4,096 NVIDIA H100 SXM GPUs under the IndiaAI mission, and was the first startup selected to build India’s foundational AI model under the mission.
Will semiconductors become the next big driver of jobs and economic growth in India? Union Minister Ashwini Vaishnaw believes so. In this exclusive interview, he explains why semiconductors are a foundational industry- just like steel- and how they can supercharge India’s manufacturing sectors, from automobiles to consumer electronics. In a wide ranging conversation, he also spoke about GST reforms, IT jobs, why real money gaming had to go and India's progress in AI Don’t miss this deep dive into India’s high-tech future in conversation with Bodhisatva Ganguli and Chandra R Srikanth
In a wide-ranging interview, Ashwini Vaishnaw spoke about the measures the government is taking to protect IT jobs amid a wave of anti-outsourcing rhetoric from the US, why GST reforms are a game-changer, why real money gaming had to go and progress on India' s AI initiatives.
Vaishnaw also said the Centre is engaging gaming industry stakeholders after ban for an orderly transition
IT minister Vaishnaw's remarks come amid growing speculation that TikTok could make a comeback in the country as relations between India and China begin to thaw.
“India is more than just a back office... our design capabilities are expanding globally.” In this insightful Moneycontrol exclusive, Union Minister Ashwini Vaishnaw tackles growing concerns around U.S. tariffs and shares how India is solidifying its position in global tech with both manufacturing and design. Key Highlights Include: • The impact of Trump-era tariffs on India’s $300 billion IT sector • India’s strategic engagements with the U.S., Europe, and Japan to safeguard tech jobs • Why electronics manufacturing in India has grown nearly 6x, creating jobs and boosting self-reliance • How India’s talent pool, democracy, and policy stability are attracting global investors • The shift from being merely a services hub to becoming a design-first tech powerhouse Tap into the full interview to understand how India is building resilience and riding the tide of global tech transformation.
“India is no longer just a back office. We are building complete products.” In this exclusive interview with Moneycontrol, Union Minister Ashwini Vaishnaw outlines how India's growing design and R&D ecosystem is transforming the global tech landscape. Key Talking Points: • The real impact of Trump-era tariffs on foreign investment • Is Apple slowing down in India—or doubling down? • Why India's product design teams are becoming globally critical • How policy stability and India’s talent pool are attracting top manufacturers • The world’s increasing trust in India as a tech and manufacturing hub Vaishnaw also touches on how hi-tech design capabilities are taking root in India like never before-spurred by talent, trust, and transformation. Watch the full Moneycontrol exclusive now.
In this Moneycontrol Mega Exclusive, Union Minister Ashwini Vaishnaw reveals how India’s recent tax reforms aim to drive economic growth and uplift middle-class households: • How income-tax relief and GST rationalisation are easing burden on salaried families • Why household consumption is expected to climb by 10%, sparking a virtuous cycle of investment and growth • What GST cuts on electronics mean for aspirational upgrades in homes • The minister’s vision for empowering every family, every citizen Watch the full interview with the Railways, I&B, and IT minister on semiconductors, IT jobs, and more!
Addressing a press conference at the BJP headquarters in Delhi, Vaishanaw revealed that the preparations for rolling out next-generation GST reforms started around one-and-a-half years ago.
The GST Council's decision to bring all products, except those under the sin and luxury goods category, under 5 per cent and 18 per cent slabs, while reducing it to zero on a host of essential items, will come into effect from September 22, the first day of Navratri.
Developed by ISRO's Semiconductor Lab, Vikram is India's first fully indigenous 32-bit microprocessor, qualified for use in harsh launch vehicle conditions.
The meeting comes a few days after IT ministry and DFS officials met stakeholders from the finance industry regarding the new online gaming law
"This pilot line (G1 facility) will produce 0.5 million chips per day, and our first Made-in-India chip will come from here," Vaishnaw said.
Tune in for two Moneycontrol exclusives with Union Minister for Electronics and IT Ashwini Vaishnaw and Union Minister for Road Transport and Highways Nitin Gadkari. Vaishnaw talks about the road ahead post the ban on real money games and Gadkari addresses a wide range of topics from economic reforms, issues in the auto sector and the Bihar electoral roll revision. Also inside: RBI to go steady on rate cuts, Sebi heat on influencers, Walmart’s profits squeezed by investments & more.
New law passed with rare speed, criminalises offering of money games while creating a central authority to regulate the sector.
In an exclusive interview, IT Minister Ashwini Vaishnaw said the law targets harmful money games but also assured support for affected workers while promoting e-sports and skill-based gaming.
Vaishnaw invites industry suggestions to boost esports and online skill gaming ecosystem