IESA Predicts India's Semiconductor Industry to Reach $40 Billion by 2030

The Indian semiconductor industry shows bright prospects for comprehensive growth because researchers predict it will reach $40 billion by 2030. The industry growth happens mainly because companies focus on expanding their supply chain structure that involves necessary chemicals and gases used in electronic chip manufacturing. According to Ashok Chandak, President of the India Electronics and Semiconductor Association (IESA), India's achievements in semiconductor production will depend on strong supply chain management.

"Any chip making touches at least more than 10 countries. It is very complicated. If we have to make semiconductor manufacturing successful in India, we have to take care of the supply chain that includes gases, the chemicals, materials, and most of the supply chain has to happen with the plants that are going to manufacture semiconductors," Chandak noted at the IESA Vision Summit.

The IESA has released a new report that highlights India’s potential to tap into the $420 billion global semiconductor supply chain market by 2030. With a 10% share, India stands to gain a $40 billion opportunity, driven by global companies setting up bases in India for both domestic production and export purposes.

The semiconductor ecosystem in the country will need a proficient workforce, with projections indicating a need for 1.5 million skilled employees and 5 million semi-skilled employees by 2026-2027. During the 19th IESA Vision Summit, more than 30 memorandums of understanding were signed, highlighting the global interest in the future of semiconductors in India.