India's semiconductor business is anticipated to more than double and expand by $100–110 billion by 2030, an official statement said on Sunday. According to the statement, which cited industry projections, the Indian semiconductor business was worth roughly $45–50 billion in 2024–2025 compared to $38 billion in 2023. "As per industry estimates, the size of the Indian semiconductor market was about $38 billion in 2023, $45-50 billion in 2024-2025 and is expected to reach $100-110 billion by 2030," the statement said.
The crisis faced by various technology segments, particularly the automobile industry, due to dependence on select geographies during the Covid pandemic, was cited in a detailed statement highlighting the need for semiconductors, government efforts, and industry response. It also emphasized the necessity of making India a reliable partner in the global supply chain.
"Currently, countries like Taiwan, South Korea, Japan, China and US dominate the semiconductor industry. Taiwan produces more than 60% of the world's semiconductors, including nearly 90 per cent of the most advanced ones.
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"Such dependence on a single region has exposed global supply chains to significant risks - from pandemics and natural disasters to geopolitical tensions. Recognizing this challenge, many countries are now building secure and diversified supply chains," the statement said. To encourage domestic chip manufacturing and lessen an excessive dependence on one area, the US, EU, Japan, and South Korea have all introduced national initiatives.
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