has said the country's first domestically produced semiconductor chip is expected to be released this year.Speaking at the 85th foundation day celebrations of Keshav Memorial Educational Society here on Friday, he said India is poised to become a significant global player in the semiconductor industry.

Today, some of the most complex chips are designed in cities, including Hyderabad, Bengaluru, Pune, Gurugram and Chennai, he said.

"Now, we are starting the manufacturing of semiconductor chips. We have already approved six semiconductor plants. Their construction is going on. We will have the first Made in India chip in 2025," he said.

The union minister said, as part of the India AI Mission, free datasets and others are being uploaded. As many as one million people are being trained in the use of AI.

Vaishnaw also said India would be among the top two economies in the world by 2047.Noting that the world is going through a big change, he said the western countries which were dominating the economy are now being replaced by the "eastern hemisphere".