Indian semicon market may be worth Rs 9.6 lakh crore by 2030, currently Taiwan is a player in this sector

India's semiconductor market is projected to more than double, reaching between $100 billion and $110 billion (approximately Rs 9.6 lakh crore) by 2030. This information was provided in an official statement on Sunday, based on industry estimates. Citing these estimates, the statement noted that the Indian semiconductor market was around $45-50 billion in 2024-2025, up from $38 billion in 2023. It is expected to hit the $100-110 billion mark by 2030.

The detailed statement emphasizes the importance of semiconductors, government initiatives, and industry responses. It highlights the crisis faced by various tech sectors, especially the automobile industry, due to reliance on specific regions during the COVID pandemic. Additionally, it underscores the need to develop India as a dependable partner in the global supply chain.

The statement noted that currently, countries like Taiwan, South Korea, Japan, China, and the US dominate the semiconductor industry. Taiwan produces over 60 percent of the world's semiconductors, including about 90 percent of the most advanced chips. This dependence on a single region has exposed global supply chains to significant risks, from pandemics and natural disasters to geopolitical tensions. Recognizing this challenge, many countries are now working on creating secure and diverse supply chains.

Furthermore, the statement mentioned that the US, the European Union, Japan, and South Korea have launched national strategies to support domestic chip manufacturing and reduce over-reliance on a single sector. India is emerging as an important and reliable partner in this global transformation. The worldwide semiconductor market is expected to reach $1 trillion by 2030, with India capturing a substantial share of the market.