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.
Esta historia es de la edición December 2023 de Outlook Business.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 2023 de Outlook Business.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Scale Stimulus
For technology start-ups, growth funding serves as the catalyst to scale, innovate, expand into new markets and make critical hires. New capital brings strategic value through investor expertise and industry network, customer introductions, helps maintain operational efficiency and mitigate cashflow challenges.The landscape of venture and growth financings in India has undergone a major shift since the pre-Covid era. The pandemic gave rise to a low-interest rate environment which saw an unprecedented inflow of capital into Indian start-ups with a very strong focus on high growth, often at the cost of high burn. Post-pandemic, the environment has seen a significant shift in focus towards sustainable growth, profitability and efficient unit economics.
The Best Valuation Need Not Be the Highest
Info Edge founder and veteran start-up investor Sanjeev Bikhchandani talks to Deepsekhar Choudhury about high valuations and corporate governance in start-ups. Edited excerpts
GCCS Shaping Start-Ups
The remarkable journey of global capability centres (GCCs) in India continues to set new benchmarks, enriching the nation's economic narrative.
Behind the Scenes
Evaluating start-ups is more than number crunching. While some factors are quantifiable, many are more nuanced. Here's a sneak peek inside the war room from where the rankings emerged
Start-Ups have Generated 17.28 Lakh Direct Jobs
Amardeep Singh Bhatia, secretary, department for promotion of industry and internal trade (DPIIT) tells Pushpita Dey about the government's various schemes to give start-ups a leg up.
On the Road Less Travelled
Our entrepreneurial journey as the founders of the CarDekho group proves the fact that ambition and ingenuity can flourish in the most unexpected places.
Being Local Matters
India's rapidly evolving consumer market, backed by a young, progressive population and a flourishing middle class, is a landscape of opportunity and complex challenges.
CELEBRATING EXCELLENCE: OUTLOOK BUSINESS SPOTLIGHT - ACHIEVERS AWARDS 2024
Recognizing Visionaries Who Inspire Growth, Innovation, and Progress
At the End of the Day, You Bet on Founders
Zerodha founder and chief executive Nithin Kamath tells Deepsekhar Choudhury that the philosophy of a company is what sets it apart and makes it special. Edited excerpts
Time to Go Global
India's defence and space start-up ecosystems have witnessed exponential growth in recent years, with over 1,000 defence and 250 space start-ups driving deep-tech innovation. Government initiatives such as Innovations for Defence Excellence (iDEX), positive indigenisation lists and allocation of 75% of the defence capital budget for domestic procurement, along with support from Indian National Space Promotion and Authorisation Centre (InSpace), have created vast opportunities.
