India's semiconductor market set to triple by 2030, reach $110 billion

India is undergoing a remarkable transformation, shifting from a nation that primarily consumes semiconductors to becoming a pivotal global manufacturing powerhouse. Projections indicate that the domestic semiconductor market, currently valued at $38 billion in 2023, is set to expand significantly to between $100 and $110 billion by the year 2030. This ambitious growth trajectory is being fueled by a combination of proactive government policies and a surge in global demand for semiconductor technology. Key initiatives, such as the India Semiconductor Mission with an investment of ₹76,000 crore, along with the Semicon India Programme, are strategically positioning India within the trillion-dollar global semiconductor value chain. Moreover, international collaborations, including the Initiative on Critical and Emerging Technology (iCET), have bolstered India’s role in the semiconductor landscape. The nation’s semiconductor aspirations are part of a broader strategy aimed at reducing reliance on foreign suppliers and enhancing technological self-sufficiency. A significant event, Semicon India 2025, is set to take place in New Delhi from September 2 to 4, showcasing India's commitment to fostering innovation and collaboration within the semiconductor industry. This edition will gather participants from 18 countries, including industry leaders, innovators, academia, and government representatives, all focused on advancing the semiconductor supply chain. In terms of infrastructure, India is making noteworthy progress. In May 2025, the Union Cabinet approved a new semiconductor fabrication facility as part of the India Semiconductor Mission, a collaboration between HCL and Foxconn. This facility will specialize in producing display driver chips for various devices, including mobile phones, laptops, automobiles, and PCs, with a target capacity of 20,000 wafers per month, translating to approximately 36 million chips each month. Additionally, India is set to begin production of its first indigenous semiconductor chip this year, with five fabrication units currently under construction. These advancements represent a major step forward in establishing a comprehensive and self-reliant semiconductor ecosystem. To support the expanding industry needs, the government has unveiled plans to train 85,000 engineers specializing in advanced semiconductor and electronics manufacturing. As global supply chains remain vulnerable due to their concentration in specific regions, India’s ascendance in the semiconductor sector presents a promising alternative. With the global semiconductor market projected to reach a valuation of $1 trillion by 2030, India is expected to play a vital role, not only as a consumer but as a significant player in production.