India aims to become semiconductor powerhouse as market booms

India is rapidly emerging as a key player in the global semiconductor industry, as reported by ANI, a partner of TV BRICS. The country's semiconductor market is forecast to triple in value by 2032, driven by increasing demand for advanced technologies.

The global semiconductor industry is projected to reach US$1 trillion by 2030. India is positioning itself to capture a significant share of this expanding market.

Much of the increasing domestic demand is expected to stem from telecom and industrial sectors, with mobile technology, IT, consumer electronics, and industrial applications leading the way.

To accelerate the development of a sustainable domestic ecosystem, the Indian government has launched a dedicated Semiconductor Mission, backed by substantial financial incentives. These incentives aim to encourage the establishment of semiconductor fabrication plants, display manufacturing facilities, and assembly, testing, marking, and packaging facilities. Design incentives and a talent development programme are also encouraging domestic innovation and skills.

Several Indian states have already introduced specific semiconductor policies to attract investment, while others are actively seeking to become hubs for chip manufacturing and design.

Government initiatives, including production-linked incentives for electronics manufacturing and the "Make in India" campaign, are also contributing to the drive for self-reliance, as reported by the source.

Photo: iStock / mirsad sarajlic