India's Push to Become a Global Player in the Semiconductor Industry

India is positioning itself to become a major player in the global semiconductor industry, a sector critical to technological advancement. According to S Krishnan, the IT Secretary at the Ministry of Electronics and Information Technology, India possesses the talent, deep expertise, and scalability needed to excel in this field. The government is actively supporting industries in creating an ecosystem that can facilitate semiconductor manufacturing.

The global semiconductor market is expected to grow into a trillion-dollar industry in the coming years. India's own electronics and semiconductor market is projected to reach USD 100 billion by 2030, as per the India Electronics and Semiconductor Association (IESA).

As one of the largest markets for electronics, automotive, and electric vehicles, India is becoming a hub for technical expertise. At a recent conference hosted by fabless semiconductor firm iVP Semiconductor Pvt Ltd, Krishnan emphasized the vital role the semiconductor industry plays in the country's future.

iVP Semiconductor is contributing to this ecosystem by establishing itself as a leading fabless chip company. The company recently secured USD 5 million in pre-series A funding, with plans to set up production test facilities in Chennai and other locations in South India. Their goal is to achieve revenues of USD 70 to 100 million in the next 3-4 years.

This signals India's growing influence and ambition to become a key player in the global semiconductor landscape.

Courtesy by: business-standard