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Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will waive tariffs on industrial imports from four European nations for a $100 billion investment over 15 years, ending nearly 16 years of negotiations.

India will fabricate its first chip in two years, Commerce Minister Piyush Goyal told CNBC during a one-on-one interview in New York.

India's push into semiconductors comes as more U.S. chipmakers set their sights on India. Nvidia , AMD , Micron are among the U.S. companies that have pledged to expand in the country.

"I'm in touch with the Micron CEO regularly, and they are making good progress," Goyal said.

Goyal added that Indian behemoth Tata and other domestic companies are working to make India's semiconductor dream a reality.

It's unlikely India will manufacture the most cutting-edge chips without the expertise of companies like Taiwan Semiconductor Manufacturing Company (TSMC ) and Samsung which build some of the world's most advanced chips.

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