India’s semiconductor market to surpass $100 billion by 2030, says Union Minister of State for IT
By MYBRANDBOOK
Union Minister of State for Information Technology Jitin Prasada in Parliament said that the Indian semiconductor market is projected to surpass $100 billion in valuation by 2030. The market includes a robust chip design and engineering sector.
Initiatives that will help the domestic semiconductor market reach the milestone included production-linked incentive (PLI) schemes for setting up chip fabs (fabrication plants), display fabs, chip testing and packaging plants, a design-linked incentive (DLI) scheme to further boost local chip design, and finally, promotion of local component manufacturing and domestic manufacturing of “large scale electronics," he added.
Moreover, the Semi-Conductor Laboratory in Mohali owned by Centre is undergoing modernization and this may add to this milestone
The Minister said that the semiconductor market will grow to $109 billion by 2030 from a market value of $38 billion in calendar year 2023, suggesting a 16% compounded annual growth rate of the industry. The important part of these plans will be the upcoming semiconductor fab. It is being set up by Tata Electronics in partnership with Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) in Dholera, Gujarat. It is expected to be ready for operations by 2027 and will produce 3 billion chips annually following a net investment quantum of $10.9 billion, including Centre- and state-backed incentives.
The chip fab is expected to produce chips ranging across 28nm, 50nm, 55nm and 90nm die sizes—all of which are expected to become applicable in industrial use cases such as railways, electric vehicles, white goods and more.
Further the value is added by assembly, testing, marking and packaging (ATMP) and outsourced semiconductor assembly and test (OSAT) facilities. In 2022, US-based Micron announced an ATMP facility with a total investment of $2.75 billion, becoming the first beneficiary of the Centre’s PLI initiative.
Already, India has a robust chip design industry as well. Chip design will also be a key contributor to the $100 billion industry valuation that Prasada projected for semiconductors in India. Industry estimates peg India to account for nearly one-fifth of all chip design operations owing to the availability of domestic engineering talent—a factor that has spurred many leading companies to ramp up operations here.
Going forward, the Centre is expected to further introduce a components incentive scheme that will boost domestic value addition further. A senior government official with direct knowledge of the matter said that the scheme is currently in the works, and will involve semiconductor components as a key part of improving India's value chain in the global manufacturing ecosystem.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
BEETEL TELETECH LTD.
BHARAT ELECTRONICS LTD.
NETWEB TECHNOLOGIES INDIA LTD.
CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT)
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Dilip Asbe
At present, Dilip Asbe is heading National Payments Corporation of Ind...
Icons Of India : Bhavish Aggarwal
Indian entrepreneur Bhavish Aggarwal is the CEO of Ola, India’s larg...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
PARTNER SPEAKERS
PSU
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
