Try GOLD - Free
A PLACE FOR THE CHIP
Outlook Business
|December 2023
Union electronics and information technology minister Ashwini Vaishnaw's entry into the Narendra Modi cabinet within two years of joining politics was seen with scepticism. However, with his background in civil service and business, the tech-savvy minister has emerged as Modi's Man Friday when it comes to working for India's semiconductor ambitions
India’s efforts to enter the global semiconductor chip manufacturing domain got a shot in the arm this year when US-based chipmaking giant Micron Technology began the construction of its $2.75 billion semiconductor plant in Sanand in Gujarat.
While Prime Minister Narendra Modi’s followers hail him for his enthusiasm in trying to make India a global semiconductor manufacturing hub, the role of his trusted lieutenant, Union minister of electronics and information technology Ashwini Vaishnaw, has not gone unnoticed.
Vaishnaw is unlike most other Union ministers before him. When he took charge at the Ministry of Electronics and Information Technology (MeitY) in July 2021, he had been a parliamentarian for barely two years. Neither did he have any ministerial experience, nor did he have much sway within the Bharatiya Janata Party (BJP). After all, he joined it only after receiving the Rajya Sabha nomination from Odisha in 2019. He was elected unopposed to the upper house, thanks to the support from the Biju Janata Dal.
Vaishnaw brought to the table at MeitY his decadeplus experience as a bureaucrat, coupled with his Ivy League pedigree and familiarity with global corporate structures. He completed M.Tech from IIT, Kanpur, and joined the Indian Administrative Service in 1994 as an Odisha cadre officer.
By 2003, he was walking in the highest corridors of power when he joined the office of then prime minister Atal Bihari Vajpayee as a deputy secretary. Later, he took a hefty loan to pursue MBA at the Wharton Business School in the US. On his return to India, he exited civil service and took up top managerial roles in multinational corporations like General Electric and Siemens one after the other. Before eventually making his foray into politics, the Jodhpur-born engineer even had entrepreneurial stints in Gujarat.
This story is from the December 2023 edition of Outlook Business.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Outlook Business
Outlook Business
'Bolstering Local Supplier Ecosystem Critical for Manufacturing Push'
From de-risking energy shift to AI impact, Shveta Arya, managing director, Cummins India, talks about the five ways the power-systems sector is being reshaped
1 min
March 2026
Outlook Business
Capital Goes Where It Finds Returns. Right Now, That's India
Manisha Girotra, chief executive, Moelis India, tells Ashutosh Mishra why India’s funding story is now structural, not cyclical. Edited excepts
3 mins
March 2026
Outlook Business
Prioritising Rare Earths
Last year, the world received a powerful reminder of how fragile global supply chains can be. When China tightened export restrictions on rare earth elements, the shockwaves hit EVs, defence and renewable energy instantly. It reinforced a new geopolitical reality: the future will be shaped not just by capital, but by access to critical minerals and the ability to build resilient value chains around them.
3 mins
March 2026
Outlook Business
Building an Empire
Long before Zomato became a household name, a young and restless IIT Delhi graduate was dreaming up India's first online food court and hoping to escape the placement rat race
4 mins
March 2026
Outlook Business
INVEST TODAY FOR A SECURE TOMORROW
Policymakers, regulators and industry leaders chart a new roadmap for financial security in an ageing India at the fourth edition of IDFC FIRST Bank presents Outlook Money 40After40 Retirement and Financial Planning Expo
7 mins
March 2026
Outlook Business
Geopolitics Shackles Green Switch
Over 70% respondents say geopolitics has moderate to significant influence on their organisation's sustainability strategy, according to a recent survey
5 mins
March 2026
Outlook Business
More Glitter Than Gold
India's AI extravaganza holds a mirror to its empty stables in the segment, but also shows a pathway for course correction
6 mins
March 2026
Outlook Business
Threads of Time
Founded in 1971, a heritage silk saree house has evolved from a neighbourhood store into one of India's fastest-growing traditional retailers
5 mins
March 2026
Outlook Business
Difficult but Doable
India's commitment to achieve net-zero emissions by 2070 will entail a long-term fundamental transformation of the entire economy. This transition can strengthen growth rather than constrain it. The nearer milestones of 2030 are ambitious and challenging. The headline number is the creation of 500GW of fossil-fuel-free capacity. On this we are on track.
3 mins
March 2026
Outlook Business
Rough Road to Decarbonisation
Technology-readiness gaps, policy uncertainty, limited access to green finance and lack of green demand remain the biggest challenges for companies to decarbonise
6 mins
March 2026
Translate
Change font size
