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Information Technology
India is on the cusp of a semiconductor revolution, with its demand projected to skyrocket to $100-110 billion by 2030. This rapid growth is fueled by significant investments in semiconductor manufacturing and electronic design, coupled with government incentives and strategic partnerships. The country aims to carve out a substantial niche in the global semiconductor landscape, positioning itself as a critical hub for both domestic and international industries.
Several key sectors are driving this expansion, including:
“India’s semiconductor consumption market is projected to reach $52 billion in 2024-25 and is expected to grow at a strong compound annual growth rate (CAGR) of 13 per cent through to 2030,” noted V Veerappan, Chairman of the India Electronics and Semiconductor Association (IESA)[1][5].
To propel this growth, innovative research and development (R&D) is critical. The Indian government and industry leaders are emphasizing the need for focused R&D in high-priority products such as smartphones, routers, and other consumer electronics. Such initiatives are aimed at enhancing India’s market relevance and establishing it as a leader in the global semiconductor sector[1][5].
The Indian government has been instrumental in promoting the semiconductor industry through initiatives like the India Semiconductor Mission, which has allocated ₹76,000 crore to boost manufacturing[4]. These efforts are complemented by state-level policies that aim to attract investments in fabrication and outsourced semiconductor assembly and test (OSAT) services.
India has been fostering strategic partnerships with global technology leaders. Companies like Micron have teamed up with Indian firms to enhance their presence in the country[4]. These collaborations are set to play a crucial role in developing a resilient semiconductor ecosystem within India.
One of the biggest challenges facing India's semiconductor sector is the need for a skilled workforce. The industry requires approximately 1.5 million skilled workers and 5 million semi-skilled workers by 2027[4]. Enhancing collaboration between industries and universities is essential for building this workforce and ensuring the sector's long-term success.
By 2030, India's semiconductor market is expected to account for approximately 10% of the global demand[3][4]. The largest segments are projected to be:
The country's electronics production is also on track to triple from $101 billion in 2022 to $500 billion by 2030, with semiconductor manufacturing being a key driver of this growth[3].
India’s race towards becoming a semiconductor powerhouse is gaining momentum. With robust government support, strategic collaborations, and a focus on innovation, the country is poised to create a significant impact in the global semiconductor landscape. As demand reaches $100-110 billion by 2030, India will not only be a major consumer but also a key player in semiconductor technology and manufacturing.
