India Accelerates Semiconductor Manufacturing and Digital Transformation
India’s semiconductor market, valued at $38 billion in 2023, is set to reach $109 billion by 2030. The government’s INR 76,000 crore Semicon India programme supports domestic manufacturing of semiconductors and displays, offering 50% fiscal support for fabs and design initiatives. The modernization of the Semi-Conductor Laboratory in Mohali has also been approved.
Under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), investments of INR 8,803 crore have been made, while the Production Linked Incentive (PLI) scheme has attracted INR 8,390 crore. India is also enhancing talent development, training 85,000 engineers to drive future semiconductor innovation.
