India’s semiconductor market set to touch $103B by 2030
Mobile handsets, IT and industrial applications together account for around 70% of the Indian chip industry’s revenue and will continue to be the main growth drivers.
India’s semiconductor market is poised to grow from USD 52 billion in 2024 to USD 103.4 billion by 2030, according to a report by the India Electronics and Semiconductor Association (IESA).
This growth will be propelled by industries such as handsets, IT, telecom, consumer electronics, automotive, aerospace and defence, the report said.
The IESA report was initially accessed by the Financial Express.
Mobile handsets, IT and industrial applications together account for around 70% of the chip industry’s revenue and will continue to be the main growth drivers.
“India’s semiconductor consumption market is valued at $52 billion in 2024-25 and is expected to grow at a robust CAGR of 13% through 2030,” said V Veerappan, chairman of IESA. “Sectors like automotive and industrial electronics present significant value-addition opportunities.”
The report emphasizes the need for targeted R&D for products such as smartphones, hearables, consumer durables and routers.
“The government’s targeted incentives for fabs and OSATs, increased R&D investments, and collaborative industry initiatives are key to propelling India’s semiconductor sector forward, with significant investment commitment of over USD 21 billion by IESA member companies in the last one year,” said Ashok Chandak, president of IESA.
A unified scheme for product development may boost high-impact semiconductor products, the report added.
