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India’s semiconductor market is growing rapidly.
deloitte According to the report, this market will expand rapidly in the coming years. It is estimated that by 2030 it will reach about $ 120 billion and by 2035 it may increase to about $ 300 billion (about Rs 27,500 billion). This increase can be seen due to increasing technological needs, digital use and expansion of electronics sector in the country, which is creating new possibilities.
Expected to meet demand through domestic production
The report says that India is moving towards a major change in its chip ecosystem. By 2035, the country may be able to produce more than 60 percent of its semiconductor needs itself. At present, India fulfills more than 90 percent of its needs through imports. The schemes and investments of the Government of India are accelerating in this direction, due to which continuous efforts are being made to make the country self-reliant.
Which sectors will increase demand and investment?
Many sectors like Artificial Intelligence (AI), automobile electronics, data centers and electronics manufacturing will play an important role in this growth. According to the report, mobile phones, computing and automobiles together will account for more than 70 percent of the total demand by 2035. More than 19 billion dollars (about Rs 1,750 billion) investment has already come in this sector and the possibility of many big projects coming in the future has been expressed.
Emphasis on employment and challenges also
The report says that by 2035, about 20 lakh new jobs can be created in this sector. For this, there will be a need to train lakhs of people every year. However, experts have warned that the success of the scheme will depend on strong policies and proper implementation. Better coordination between the Center and the states and strong infrastructure are considered extremely important for the success of this sector.
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