India’s semiconductor market is projected to expand from $52 billion (Rs 4.5 trillion) in 2024 to $103.4 billion (Rs 9 trillion) by 2030, as indicated by a report from the India Electronics and Semiconductor Association (IESA).
The Financial Express report identifies several key sectors driving this growth, including mobile handsets, information technology (IT), telecommunications, consumer electronics, automotive, aerospace, and defense. Notably, mobile handsets, IT, and industrial applications account for almost 70 percent of the semiconductor industry’s revenue and are expected to continue as the main contributors to growth.
“India’s semiconductor consumption market is projected to reach $52 billion in 2024-25 and is expected to grow at a strong compound annual growth rate (CAGR) of 13 per cent through to 2030. Sectors such as automotive and industrial electronics present considerable opportunities for added value,” commented V Veerappan, Chairman of IESA.
