IESA projects that the Indian semiconductor market would reach $103 billion by 2030.

A survey released by the India Electronics and Semiconductor Association (IESA) projects that the semiconductor market in India will reach $103.4 billion (₹9 lakh crore) by 2030, up from $52 billion (₹4.5 lakh crore) in 2024.

Mobile phones, IT, telecom, consumer electronics, automotive, aerospace, and defense are some of the major businesses driving this expansion. The key growth drivers of the semiconductor business are still anticipated to be mobile phones, IT, and industrial applications, which together provide around 70% of the sector’s revenue.

Innovative research and development (R&D) is needed for high-priority items like routers, cellphones, wearable technology, and consumer durables, according to the report.

Key suggestions for fulfilling India’s aspirations in the semiconductor industry are highlighted in the research. These include the semiconductor incentive program’s continuation after the initial $10 billion investment and the design-linked reward program with certain adjustments.

In electronics manufacturing, the IESA stated that the government should prioritize local value addition and set a goal of 25% local value addition by 2025–2026 and 40% by 2030.

High-impact semiconductor products can be developed using a unified approach, according to the statement. Additionally, the research states that workforce development is a crucial topic that needs attention.

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