The Indian Electronics and Semiconductor Association (IESA) unveiled its much-anticipated “India Semiconductor Market Report 2030” during the Utkarsha Odisha Conclave 2025 inaugurated by the Hon’ble Prime Minister of India, Shri Narendra Modi, along with the presence of Hon’ble Chief Minister of Odisha, Shri Mohan Charan Majhi, Hon’ble Industries Minister of Odisha, Shri Sampad Chandra Swain, and industry captains and investors. The report was officially released by Shri Ashwini Vaishnaw, Hon’ble Union Minister of Electronics & IT (MeitY), Railways, and I&B, and Dr. Mukesh Mahaling, Minister of Electronics & IT, Odisha State, along with the presence of Shri Vishal Kumar Dev, IAS, Principal Secretary to Government, Energy Department, Govt of Odisha signaling India’s continued momentum toward becoming a global hub for semiconductor innovation and manufacturing.
The report presents an in-depth analysis of India’s semiconductor market from 2023 to 2030, covering key industries such as handsets, IT, telecom, consumer electronics, automotive, aerospace, and defence. It also provides actionable insights into critical components like processors, memory, connectivity, and power solutions, along with recommendations for increasing local sourcing.
India’s Growing Semiconductor Market
Highlighting the report’s findings, Ashok Chandak, President of IESA, shared, “India’s semiconductor market is projected to grow to $103.4 billion by 2030, powering the $400+ billion electronics market.
He also underscored the pivotal role of government policies in fostering a robust semiconductor design and manufacturing step up. “The government’s targeted incentives for FABs and OSATs, increased R&D investments, and collaborative industry initiatives are key to propelling India’s semiconductor sector forward,” with significant projects Investment commitment of over US$ 21 Bn by IESA member companies in last one year, Chandak added.
A Vision for Sustainable Growth
Dr. V Veerappan, Chairman of IESA, emphasized the market’s expansion, stating, “India’s semiconductor consumption market is valued at $52 billion in 2024-25 and is expected to grow at a robust CAGR of 13% through 2030. Sectors like automotive and industrial electronics present significant value-addition opportunities. Mobile handsets, IT, and industrial applications, which together contribute nearly 70% of the revenue, remain the primary growth drivers.”
Strategic Recommendations for Industry Growth
The report highlights key recommendations for achieving India’s semiconductor ambitions:
- Continuing the Semicon India Program beyond the initial outlay of 10 Bn$ and DLI scheme with some modifications.
- Prioritizing Local Value Addition: Setting a target of 25% local value addition by 2025-26 and 40% by 2030 in Electronics manufacturing PLI benefits.
- High-Priority Chips: IESA report lists strategic products that align with India’s strengths and global market needs, particularly to support upcoming fabs and OSAT units and tap business potential.
- Unified Schemes for Product Development: Consolidating multiple initiatives under a unified Product Creation Initiative to drive high-impact semiconductor products.
- Workforce Development: Enhancing collaboration between industries and universities to implement skill-building programs for a future-ready semiconductor workforce.
Chandak stressed, “Focusing on local semiconductor design and manufacturing while reducing import dependency is crucial to strengthening India’s position in the global electronics ecosystem and retaining economic value in the country.”
Call to Action for Innovation and Collaboration
The report also emphasizes the need for innovative R&D to focus on a list of high priority products that cater to domestic and global markets. This will not only enhance our market relevance but also establish us as a leader on the global stage,” Chandak explained.
Dr. Veerappan concluded by highlighting the importance of workforce development: “A skilled workforce is the backbone of India’s semiconductor aspirations. By investing in education and hands-on training, we can equip the youth to lead the sector’s transformation.”
