India eyes major role in USD 1 trillion global semiconductor market by 2030

India is expected to emerge as a significant player in the global semiconductor market which is expected to reach USD 1 trillion by 2030In an official statement released on Sunday the central government highlighted that Indias semiconductor market valued at around USD 38 billion in 2023 is projected to grow to USD 4550 billion by 20242025 and further expand to USD 100110 billion by the end of the decadeThis rapid growth reflects the countrys growing focus on strengthening its position in the global semiconductor value chainThe govt stated The global semiconductor market is expected to reach USD 1 Trillion by 2030 with Indias market occupying a substantial portion of itIndias chip ecosystem is evolving rapidly moving from policy formulation to production readiness Several fabrication assembly and design hubs are taking root across the country translating vision into realityMajor investments have been announced in various parts of IndiaIn June 2023 Micron Technology committed Rs 22516 crore to set up an ATMP facility in Sanand GujaratIn February 2024 Tata Electronics in partnership with Taiwans Powerchip Semiconductor Manufacturing Corporation announced a Rs 91000 crore investment in Dholera Gujarat with an output capacity of 50000 wafers per monthThe same month CG Power amp Industrial Solutions in collaboration with Renesas and Stars proposed a Rs 7600 crore plant in Sanand capable of producing 15 million chips per day Tata Semiconductor Assembly and Test Pvt Ltd TSAT will set up a Rs 27000 crore facility in Morigaon Assam with a daily capacity of 48 million chipsIn September 2024 Kaynes Semicon Pvt Ltd plans to begin operations in Sanand with an investment of Rs 3307 crore and a production capacity of 633 million chips per dayBy May 2025 HCL and Foxconns joint venture is expected to start a facility in Jewar Uttar Pradesh with an investment of Rs 3700 crore and a production capacity of 20000 wafers per month or 36 million units annuallyThese developments highlight Indias growing momentum in becoming a global semiconductor hubThe government noted that India has the potential to contribute significantly to the three key pillars of semiconductor manufacturing equipment materials and servicesOn the equipment front India is leveraging its robust base of Micro Small and Medium Enterprises MSMEs to produce essential components for semiconductor equipmentIn terms of materials India is rich in chemicals minerals and gases making it wellsuited to support the raw material requirements of the semiconductor supply chainOn the services side India possesses a large talent pool in fields like research and development logistics and emerging technologies such as artificial intelligence AI big data cloud computing and the Internet of Things IoTTo support this vision the government has also launched the India Semiconductor Mission ISM in December 2021Approved by the Union Cabinet with an outlay of Rs 76000 crore the mission aims to provide financial assistance for investments in semiconductor fabrication display manufacturing and chip designThe objective is to deepen Indias integration into global electronics value chains and establish the country as a hub for electronics manufacturing and designISM is envisioned to be led by global experts in the semiconductor and display industries and acts as the nodal agency for the seamless implementation of various semiconductorrelated schemesThe govt also highlighted that countrys electronics industry is expanding rapidly and semiconductors are at the core of this transformationIn a bid to meet rising domestic demand and reduce import dependency the government has launched initiatives like the India Semiconductor Mission the SEMICON India Programme and international collaborations such as the IndiaUS Initiative on Critical and Emerging Technology iCETThese steps reflect Indias transition from a consumer of chips to a critical contributor to the global semiconductor supply chainAs approved facilities begin their operations and new projects move forward India is fast positioning itself as a trusted semiconductor manufacturing hubThis transformation is expected to boost the countrys digital economy enhance national security and strengthen technological selfreliance From dependence to dominance the semiconductor revolution is taking shape across IndiaSemiconductors are the invisible engines behind modern electronics acting as the brains of devices ranging from mobile phones to satellitesThese materials have electrical conductivity between that of conductors and insulators enabling them to function under different conditionsThis unique property allows for the creation of chips that can control and direct the functioning of advanced machines In the Chandrayaan3 mission the Vikram lander relied on Indianmade technology and AI to identify a safe landing site and make decisions independently showcasing the power of semiconductors in space and defence technologiesWith strong government backing international partnerships and increasing private sector participation the country is laying a strong foundation for a selfreliant and technologically advanced future powered by chips designed and made in BharatThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever