India Positioned to Become Global Leader in Semiconductor Industry, Says IT Secretary

NEW DELHI: India possesses the talent and deep expertise required to emerge as a global leader in the semiconductor industry, according to S Krishnan, Secretary of the Ministry of Electronics and Information Technology. Speaking at a conference organized by fabless semiconductor firm iVP Semiconductor Pvt Ltd, Krishnan underscored the importance of the semiconductor sector for India's technological and economic future.

"The semiconductor industry is vital for the country, and India has the talent, deep expertise, and scalability to be a global player. The Government is helping the industry to create the ecosystem to build semiconductors," Krishnan stated. He emphasized the government's commitment to fostering an environment conducive to the industry's growth, including providing necessary support and infrastructure.

Global management consulting firm McKinsey has forecasted that the semiconductor industry will become a trillion-dollar industry worldwide. Meanwhile, the India Electronics and Semiconductor Association (IESA) projects that India's semiconductor sector will reach USD 100 billion by 2030. These optimistic projections underscore the significant opportunities within the industry, particularly as India becomes one of the largest markets for electronics, automotive, electric vehicles, and a major hub for technical expertise.

Krishnan also highlighted the role of iVP Semiconductor Pvt Ltd in driving demand to maximize manufacturing capacity in wafer fabrication. "I would like to congratulate iVP Semiconductor on the creation of an Indian fabless chip company," he said, acknowledging the company's contributions to the sector.

Raja Manickam, Co-founder of iVP Semiconductor Pvt Ltd, shared that his company recently secured USD 5 million in pre-series A funding. The firm has ambitious plans to establish a production test facility in Chennai and another in South India. Manickam projected that the company would achieve revenues of USD 70 million to USD 100 million within the next three to four years.

The event underscored the collaborative efforts between the government and industry players to position India as a significant force in the global semiconductor market. With ongoing investments and strategic initiatives, India is well on its way to becoming a critical player in the semiconductor landscape.

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