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India's semiconductor market seen reaching $155 billion by CY31
India's semiconductor market is projected to reach USD 155 billion by CY31, implying a (CAGR) of 20 per cent and taking the country's share of global to roughly 9 per cent by 2031, according to a report by .
The report said India's semiconductor opportunity is being supported by a combination of domestic demand, a growing chip-design ecosystem, government support and the emergence of manufacturing and packaging capabilities.
"India's semiconductor market to reach US$ 155bn by CY31E, a 20% CAGR that would increase India's share of global semiconductor consumption to roughly 9% by 2031E," the report said.
According to the report's market trajectory, India's semiconductor market is estimated at USD 62 billion in CY26, with the country accounting for around 6 per cent of global semiconductor consumption. By CY31, the market is projected to rise to USD 155 billion, while its global share is expected to increase to 9 per cent.
The report also highlighted the evolution of India's semiconductor value chain, with the country seeking to move from strengths in chip design towards fabrication, assembly, testing and related semiconductor infrastructure.
As per the report, India's chip-design ecosystem is already a key strength. The country has around 3 lakh chip designers, accounting for about 20 per cent of the global chip-design workforce, with India ranked second only to the United States.
The report said India's current position in chip design is "Strong", while its CY30 ambition is "Leadership". In wafer fabrication, the current position is described as "Absent", with the target of reaching "Pilot-Scale". Similarly, OSAT/ATMP is currently "Emerging" and targeted to become "Scaled" by CY30.
The report identified several enablers for this transition, including the Chip-to-Startup (C2S) programme, Design Linked Incentive (DLI), Global Capability Centres (GCCs), semiconductor projects and government support. It noted that Tata-PSMC's Dholera 28nm fab and projects involving Micron, Tata, Kaynes and CG Semi are expected to strengthen India's semiconductor manufacturing and packaging ecosystem.
India's cost competitiveness in semiconductor assembly and testing is another potential advantage. The report said OSAT costs in India are estimated to be 20-30 per cent lower than peers, while the country's competitive advantages include cost and scale, a large talent pool and government support, including 50 per cent capex support.
The report also projected a significant ramp-up in India's OSAT/ATMP capacity. Target capacity across projects is shown rising from 15 million chips per day in CY26 to 48 million chips per day in CY28, with projects involving CG Semi, Kaynes Semicon, Tata OSAT and the HCL Group-Foxconn joint venture.
The report further pointed to strong end-market demand as a critical driver for the semiconductor ecosystem, with 5G, electric vehicles, defence and AI data centres identified as key demand generators. It estimates India's CY30 semiconductor end-market at around USD 103 billion.
However, the report also highlighted India's dependence on imports across several semiconductor-related categories, including semiconductor equipment, specialty chemicals, electronic-grade gases, silicon wafers, substrates/lead frames and other inputs.
The report's projections indicate that India's semiconductor opportunity is expected to expand rapidly through the end of the decade, with rising domestic consumption, a large design talent base, increasing OSAT/ATMP capacity and investments in fabrication providing the foundation for a broader semiconductor value chain. (ANI)
Source: EconomicTimes
Related Posts: India semiconductor market,semiconductor consumption,Kotak Mahindra Mutual Fund,Compound Annual Growth Rate,chip design ecosystem
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