Market Report
Semiconductors: Electrifying India’s Future Growth
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Key Insights
1
Semiconductors worth USD 499.8 Bn were sold globally between Jan-Oct’24
2
Semiconductors worth USD 499.8 Bn were sold globally between Jan-Oct’24 - Market size to grow from USD 35 Bn in 2023 to over USD 100 Bn by 2032
3
An outlay of USD 10 Bn approved by the Indian government to boost manufacturing
Key Takeaways
- ‘India Semiconductor Mission’ to propel the industry by focusing on manufacturing, testing facilities, and designing of semiconductors by providing incentives.
- Limited availability and procurement of silicon poses a challenge to the semiconductor industry. However, investing in R& D to reduce reliance on silicon may be the answer to the solution. Early research suggests that materials such as Boron Arsenide, Gallium Nitride and Gallium Oxide show promise as alternative to silicon.
- India has the potential to replicate the success story of Taiwan if it focuses on infrastructure development and amends policies proactively to lure global semiconductor facilities.
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