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Summary:

India's semiconductor industry is expected to grow from Rs. 4,50,164 crore (US$ 52 billion) in 2024 to Rs. 8,95,134 crore (US$ 103.4 billion) by 2030, driven by sectors such as mobile phones, IT, telecommunications, consumer electronics, automotive, aerospace, and defense. These sectors account for over 70% of the industry's revenue, with a projected 13% compound annual growth rate (CAGR) through 2030, indicating significant growth potential.

 

The report emphasizes the importance of innovative R&D in key products like smartphones, consumer durables, and routers. "Government incentives for fabs and OSATs, along with increased R&D and industry collaboration, are crucial to advancing India's semiconductor sector," said Ashok Chandak, President of IESA. IESA members invested over Rs. 1,81,797 crore (US$ 21 billion) last year. The report recommends expanding the semiconductor incentive scheme and revising the design-linked incentive scheme, with a focus on meeting local value addition targets. 

 

Source: IBEF

 

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