India Poised to Lead Global Semiconductor Market

India's semiconductor industry is set to grow significantly, backed by the government and industry's deep expertise. S Krishnan, Secretary of the Ministry of Electronics and Information Technology, highlighted the potential at a conference, citing India’s capacity to become a global player in this vital sector.

India has the requisite talent and expertise to emerge as a global leader in the semiconductor industry, according to S Krishnan, Secretary of the Ministry of Electronics and Information Technology.

Speaking at a conference organized by fabless semiconductor firm iVP Semiconductor Pvt Ltd, Krishnan emphasized the government's role in fostering a supportive ecosystem for semiconductor manufacturing.

Notably, McKinsey predicts the semiconductor sector will become a trillion-dollar industry globally, with the India Electronics and Semiconductor Association (IESA) forecasting India's share to reach USD 100 billion by 2030.

India is rapidly evolving into a significant market for electronics, automotive, and electric vehicles, underscoring its technical prowess.

Krishnan lauded iVP Semiconductors Pvt Ltd for their role in driving manufacturing demand and congratulated them on securing USD 5 million in pre-series A funding. The company plans to establish production test facilities in Chennai and South India, targeting revenues of USD 70 to 100 million in the next 3-4 years.

(With inputs from agencies.)