New Delhi: India’s semiconductor market is projected to grow from $52 billion (Rs 4.5 lakh crore) in 2024 to $103.4 billion (Rs 9 lakh crore) by 2030. A report published by the India Electronics and Semiconductor Association (IESA) revealed this.
This growth will be driven by key industries such as handsets, IT, telecom, consumer electronics, automotive, aerospace and defence. Mobile handsets, IT and industrial applications alone account for nearly 70% of the semiconductor industry’s revenue and are expected to remain the primary growth drivers.
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‘India’s semiconductor consumption market is valued at $52 billion in 2024-25 and is expected to grow at a robust CAGR of 13% through 2030. Sectors like automotive and industrial electronics present significant value-addition opportunities,’ said V Veerappan, chairman of IESA.
IESA said the government needs to prioritise local value addition, and set a target of 25% local value addition by 2025-26 and 40% by 2030 in electronics manufacturing.
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