India's semiconductor industry has the potential to grow to Rs. 3,47,800 crore (US$ 40 billion) by 2030: India Electronics and Semiconductor Association (IESA)

India's semiconductor industry has the potential to grow to Rs. 3,47,800 crore (US$ 40 billion) by 2030, driven by advancements in the supply chain ecosystem, particularly chemicals and gases essential for chip manufacturing. According to the India Electronics and Semiconductor Association (IESA), the global semiconductor supply chain market is projected to reach Rs. 36,51,700 crore (US$ 420 billion) by 2030, with India targeting a 10% share.

Speaking at the IESA Vision Summit, IESA President, Mr. Ashok Chandak, emphasised the need for India to learn from global semiconductor hubs, given the complexity of the industry. He highlighted that semiconductor manufacturing involves more than 10 countries, necessitating a robust local supply chain, including gases, chemicals, and materials. The IESA report projects that India will require 1.50 million skilled workers and five million semi-skilled workers in the semiconductor value chain by 2026-27. Additionally, over 30 Memoranda of Understanding (MoUs) were signed at the summit, including Tata Electronics' agreements with Powerchip Semiconductor Manufacturing Corporation (PSMC) and Himax Technologies.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.