By 2029, India will not only meet its demand for semiconductors but also start exporting them, as the government has cleared proposals to set up plants to manufacture them.“A significant part of our (semiconductor) requirements will be made in India. We will also become major exporters, just like we have become major exporters of mobile phones,” Union Minister for Electronics and Information Technology Ashwini Vaishnaw told NDTV Profit's Tamanna Inamdar in an exclusive interview.The comments come a day after the Union government cleared proposals to set up semiconductor units across the country. The minister said they will cater to the automobile, electrical and space industries.Among these units, one in Assam will export to some of the best automobile companies in the world, Vaishnaw said. The Tata Power Chip plant will supply companies that make high-speed trains, refrigerators and more, the minister said.Once the semiconductor industry is in place, Vaishnaw said it will immediately aid the manufacturing sector. He also said that after setting up the ecosystem for semiconductors, it became easier to successfully set up the manufacturing plants after the failures of the past.He also added that this is a 20-year journey that began with getting all the required material, preparing for research and development, designing, manufacturing and eventually exporting. Nearly 30% of the leaders in the semiconductor sector in the world are Indians and that has helped create a huge talent pool, he pointed out.Vaishnaw also said that the government has tied up with 104 universities to offer training in semiconductor manufacturing and assembly; testing, marking and packaging are being provided.“India will be fabricating 300 crore semiconductor chips in a year,” he said when asked about the future. We're in a position where design is being complemented by ATMP and fab capabilities, and this will bring the entire semiconductor chain to India, he said.Watch full video here:Ashwini Vaishnaw Says Eight Large Investment Funds Looking To Invest In Telecom