India's Semiconductor Surge: A New Global Powerhouse

India's semiconductor market is projected to more than double, reaching the USD 100-110 billion mark by 2030. The nation is positioning itself as a significant global player amid efforts to diversify supply chains away from reliance on dominant regions like Taiwan. Strategic investments and collaborations are underway.

India's semiconductor industry is on the brink of substantial growth, with market projections set between USD 100-110 billion by 2030, according to an official statement made on Sunday.

The current market size of USD 38 billion in 2023 is expected to rise significantly, driven by strategic investments and government initiatives like the India Semiconductor Mission.

The global semiconductor sector, heavily dominated by countries like Taiwan, is experiencing a shift as nations strive to reduce dependencies. India's emergence as a trusted partner is underscored by its robust capabilities in machinery, materials, services, and research and development.

(With inputs from agencies.)