New Delhi [India], September 24 (ANI): India’s annual semiconductor demand is predicted to exceed USD 150 billion over the following 5 years, Union Commerce and Industry Minister Piyush Goyal mentioned on Thursday, highlighting the federal government’s efforts to construct a home chip manufacturing ecosystem and develop the nation’s function in synthetic intelligence (AI).
Speaking on the Public Affairs Forum of India’s (PAFI) thirteenth Annual Forum 2026, Goyal mentioned the federal government was investing substantial capital in growing the semiconductor ecosystem, masking chip manufacturing, design, packaging and testing, to cut back the nation’s dependence on imports.
He mentioned India’s annual semiconductor consumption demand was anticipated to develop to over USD 150 billion within the subsequent 5 years.
Goyal additionally mentioned India was seeking to take part throughout the AI expertise stack, from giant language fashions to AI brokers, as the federal government seeks to strengthen the nation’s place in rising applied sciences.
‘India just isn’t going to be shy or going to be apologetic or keep away from,’ he mentioned, referring to the adoption of recent applied sciences.
‘AI, for instance, is one thing that we will embrace,’ he added.
Addressing considerations concerning the impression of AI and automation on employment, Goyal mentioned the expertise would create new alternatives for India, though the character of jobs might change.
He burdened the necessity to put together younger staff for rising roles, together with cybersecurity and the event of AI brokers.
‘It’s going to open up such large alternatives for India. We’ve obtained to be prepared for that. We’ve obtained to ability our kids for that,’ he mentioned.
The minister additionally referred to Prime Minister Narendra Modi’s emphasis on skilling 10 million younger individuals in AI.
Goyal mentioned the growing use of AI would create demand for expert professionals able to growing, managing and validating AI programs.
He additionally cautioned companies in opposition to relying solely on AI-generated data with out human verification, citing the potential for inaccurate responses and the dangers related to utilizing such data in skilled decision-making.
‘Please do not use AI-generated content material as it’s. Superimpose the human mind earlier than you utilize it, in any other case you’re at nice danger and value,’ he mentioned.
Goyal urged companies to ascertain skilling centres to arrange younger individuals for rising applied sciences and mentioned human experience would stay important at the same time as AI fashions turn into extra superior.
He additionally highlighted India’s rising startup ecosystem, saying the federal government’s focus was shifting in the direction of innovation and deep expertise.
The minister mentioned India had greater than 120 unicorns and burdened the necessity to encourage younger entrepreneurs to develop new applied sciences and pursue alternatives in rising sectors.
Earlier, Goyal had outlined India’s semiconductor demand projection throughout his go to to Japan in August 2026, when he mentioned home demand might attain USD 150 billion by 2032. (ANI)