India Semiconductor Market to Hit $200B by 2035: EY-IESA
By Business Desk
Discover how India’s semiconductor market is projected to reach $200 billion by 2035, driven by rising demand and electronics manufacturing growth.
India’s semiconductor market is projected to triple and reach a valuation of $200 billion by 2035, according to a joint report released by EY and the India Electronics and Semiconductor Association. This projected expansion is driven by the country’s expanding electronics manufacturing sector and rising domestic demand.
Key Figures and Market Realities
The report details crucial metrics tracking the current state and future trajectory of the nation’s semiconductor landscape. The findings outline both the immense growth potential and the heavy reliance on foreign supply chains.
Here are the core figures highlighted in the joint report:
Market valuation projection of $200 billion by the year 2035.
Import reliance surge of fivefold since the 2017 fiscal year.
The Import Dependency Challenge
Despite the rapid market expansion, the report highlights a critical challenge regarding the country’s reliance on semiconductor imports. This heavy dependence underscores vulnerabilities within the current supply chain infrastructure.
To mitigate this dependency and capitalize on the projected market expansion, the report emphasizes the need for strategic interventions. These measures include investments in domestic manufacturing capabilities, supply chain resilience, and targeted policy support to foster a self-reliant semiconductor ecosystem.