India’s semiconductor market to surpass $100 billion by 2030.

The semiconductor market in India is poised to touch $100 billion by announcing the country’s place in the global semiconductor industry. The market is expected to grow expands from the current estimated value of about $15 billion in the year 2020 elevated by a range of industries ranging from consumer electronics, automotive, telecommunications, and healthcare.

Indian government has undertook various measures to support upcoming semiconductor industry, some of them are, the latest being Production Linked Incentive (PLI) scheme worth about ₹76,000 crore (approximately $10 billion) for semiconductor and display companies to setup in India. This falls under a larger plan to enact change in an effort to create a semiconductor manufacturing ecosystem in India by minimizing imports and pushing for an ‘Atmanirbhar’ India.

Apart from the financial incentives, the government is currently working on developing human capital where for the next five years approximately more than 85 Thousand engineers are to be trained for semiconductor design and manufacturing. Innovation and technology advancement are also being supported through research and development as well as working with industry and academic institutions, and government agencies on the development of advanced chips.

Looking at the market trend, the demands of semiconductor in India are expecting to be boosted in 2030 by 5G technology, electric cars, and AI and IoT applications. With these new technologies India wants to not only address its internal demands but also produce chips that would help it turn into a global player in the semiconductor market and achieve the Indian government’s vision of a $5 trillion economic pie.