India’s Semiconductor Market Could Reach $155 Billion by 2031
India’s semiconductor market is projected to grow significantly, potentially reaching USD 155 billion by CY31, according to a recent industry report.
The report estimates that India’s semiconductor consumption could grow at around 20% annually, increasing the country’s share of global semiconductor consumption to nearly 9%. Rising smartphone production, data centre investments and growing electric vehicle adoption are expected to be key drivers of this growth.
India already has a strong base of around 3 lakh chip designers, but challenges such as dependence on imported manufacturing equipment and the shortage of specialised semiconductor talent remain.
The projected growth highlights India’s increasing importance in the global semiconductor ecosystem and its potential to become a major market for chip manufacturing and consumption.
