India's Semiconductor Leap: Shaping the Future of Global Tech

India is poised to make significant strides in the global semiconductor supply chain, according to a recent report by NITI Aayog. As global demand for chips soars with advancements in AI, 5G/6G, and IoT, India stands at a crucial juncture to exploit these developments by transitioning from a consumer to a co-creator of cutting-edge technologies.

The NITI Aayog report emphasizes that semiconductors are integral to future technologies including AI, IoT, and advanced network infrastructures. With rapidly increasing computational demands from sectors like data centers and autonomous vehicles, the semiconductor market is projected to grow significantly, from $631 billion in 2024 to $1,547 billion by 2035.

Amidst this global expansion, India's semiconductor demand is expected to rise at a robust pace, potentially reaching $90 billion by FY2030 and $200 billion by FY2035, driven by growth in electronics manufacturing and the adoption of AI across various domains. The report underscores the urgent need for India to invest in design and manufacturing to secure a position within this dynamic industry.

(With inputs from agencies.)