India is quickly establishing itself as one of the primary players in the world semiconductor ecosystem as the industry touches a high of $656 billion in 2024 and expands more than 21 percent year-over-year. With burgeoning worldwide demand for semiconductors being driven by AI, 5G, EVs, IoT, and high-performance computing, India is capitalizing on its skill, policy momentum, and geoeconomic advantage to become the destination for semiconductor innovation and production.

According to recent report published by Gartner, Nvidia is in the top 10 chip suppliers and largest contribution is from GPU, CPU, Memory and Mobile SoC's. A ₹76,000 crore ($10 billion) incentive package has been introduced under Government of India's Semicon India Program to stimulate local chip making, advanced packaging, and semiconductor design.

Complemented by robust industry participation, more than $20 billion of investments have already been pledged by IESA member companies and international players across several Indian states. Apart from MeitY-approved major projects, numerous semiconductor initiatives have received robust support from various state governments, with several major Indian corporates actively engaging reflecting the sector's increasing momentum across the country. Notable live projects include those by Polymatech, HCL, RRP Electronics, Suchi Semiconductors, RIR, and CDIL, reflecting a broad-based commitment to building India’s semiconductor capabilities. Recognizing this transformative opportunity, many Indian states have stepped up by introducing tailored semiconductor and electronics manufacturing policies.

Gujarat has led the way with India’s first dedicated semiconductor policy and has already attracted major fab proposals. Likewise, Chhattisgarh, Assam, Uttar Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, and Odisha have designed innovative models providing policy assistance, incentives in terms of taxes, ESDM clusters, and specially developed infrastructure to host semiconductor players. IESA has been in lead with the states in formulation and promotion including working as a knowledge partner. India's strengths ranging from a huge talent pool of chip design engineers, educational institutions, and an emerging base of electronics manufacturing make it a natural fit for global firms looking for robust and diversified supply chains.

The just-concluded IESA Vision Summit in Gandhinagar presented the huge potential and growing interest in India's semiconductor and electronics industry, attracting more than 2,500 delegates, 300 overseas attendees, seven country roundtables, 100 exhibitors, and 100 research poster presentations emphasizing India's emerging status as a global deep-tech innovation and collaboration hub. As per a recent IESA report on India's semiconductor industry, local demand is expected to grow to $103 billion by 2030, while the international market is likely to exceed $1 trillion. This is a huge opportunity for Indian players in the semiconductor space to access both local and global markets, particularly as chip manufacturing becomes an increasingly global industry.

With a focus on innovation, cutting-edge R&D, and skill development, India's burgeoning semiconductor ecosystem will be at the forefront of realizing the vision of Atmanirbhar Bharat and Make in India, while significantly contributing to the global semiconductor supply chain. Most Notably, With the visionary leadership of Prime Minister Shri Narendra Modi and the dynamic stewardship of Union Minister for Electronics & IT, Railways, and Communications, Shri Ashwini Vaishnaw, India's semiconductor and electronics industry has never been more in motion than it is today. Their targeted thrust through champion initiatives such as Digital India, Make in India, and the Semicon India Programme, PLI for Electronics manufacturing and Components, DLI for chip design, R&D, etc has spurred huge investments, policy changes, and worldwide interest in India's semiconductor and electronics journey.

Both leaders have been interacting with global industry giants, and promoting strategic partnerships which are fueling India's ascendance as a competitive and credible hub for semiconductor production and innovation.