How Global Chip Crisis can be an opportunity for India’s Semiconductor market to reach over USD 65 Bn by 2027?- Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit India Semiconductor Market has been growing exponentially with a CAGR of 136% between FY’17 and FY’21 owing to the increasing adoption of Fin-tech in the country. 1. The sales for semiconductors increased to around $450 billion in 2020 and have been growing rapidly which has brought the world into a global chip crisis. To Know More about this report, download a Free Sample Report A semiconductor is an important component of electronic devices that enables advances in computing, communication, military systems, automotive, and other countless applications. The supply chain was slowed down during the global pandemic which affected the sales of the semiconductor market globally. However, as the restrictions were given little relaxation, the market increased to around $450 billion as compared to the 2019 total of $412.3 billion owing to recent technological advancements trends such as hyper-scaler cloud computing, Artificial Intelligence (AI), Internet of Things (IoT), and automotive Advanced Driver Assistance Systems (ADAS), etc. However, the sudden increase in demand created a shortage of chips as it was impossible to meet the requirement at the same pace, post-pandemic. 2. The global chip shortage came as a big threat to countries like India which is a 100% import-driven market, growing at a CAGR of ~11% Visit this link:- Request for Custom Report India is a 100% importer of semiconductors. It is only involved in the design, assembling, testing, and packaging of semiconductors. China, Taiwan, the USA, and Japan are some of the major countries that import semiconductors to India. As a result of complete dependency on foreign countries, the market was affected during the COVID-19 outbreak. This pushed India to take crucial steps in order to lower its complete dependency and become self-reliant. 3. India’s game changing move: INR Rs. 2,30,000 to position India as global hub for electronics manufacturing with semiconductors as the foundational building block India’s vision to become self-reliant in the electronics & semiconductors market was given momentum by approving the Semicon India program with a total outlay of INR 76,000 crore for the development of the semiconductor and display manufacturing ecosystem in India. Moreover, incentive support to the tune of Rs.55,392 crore (7.5 billion USD) has been approved under PLI for Larges Scale Electronics Manufacturing, PLI for IT Hardware, SPECS Scheme, and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme. In addition to this, the PLI incentives to the quantum of Rs.98,000 crore (USD 13 billion) are approved for allied sectors comprising ACC batteries, auto components, telecom & networking products, solar PV modules, and white goods. In total, the Indian government has committed support of Rs. 2,30,000 crore (USD 30 billion) to position India as a global hub for electronics manufacturing with semiconductors as the foundational building block. 4. Expansion of chip manufacturing plants, and Strategic international joint ventures will enable the Indian semiconductor industry to experience double-digit growth in the future. India is planning to expand chip manufacturing plants. International semiconductor consortium (ISMC), a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor, plans to invest Rs 22,900 crore ($3 billion) in a chip fab. In May 2022, it signed an agreement with the Karnataka government to set up an Electronics Manufacturing Cluster over 150 acres of land in the Kochanahalli Industrial Area. Owing to the expansion of chip manufacturing plants in the country and increasing design centers, the semiconductor industry in India is expected to grow at a CAGR of ~20% from 2023 to 2027. So, the bottom line is, along with the rising domestic demand for electronic products, the increasing number of collaborations with global players, and the Indian government’s encouraging policies, India’s future of becoming a global leader in the semiconductor manufacturing industry looks promising and a near possibility. For more insights on the market intelligence, refer to the link below:- India Semiconductor Market Follow Us Facebook | Twitter | LinkedIn | Instagram Tags: ASM semiconductor market revenue India, Bharath electronics chip market revenue, Challenges India chip component sector, Chip component industry India, Competitors semiconductor manufacturing industry, Dixon technology India total revenue, Embedded software semiconductor industry India, Extrinsic semiconductors market India, Fund raised in the chip market India, HCL technology semiconductor market revenue India, India Semiconductor Industry, Indian chip Industry, Indian chip manufacturing sector India, Indian IT Chip sector industry, Indian Semiconductor components industry, Indian semiconductor manufacturing sector, Indian semiconductor market top players, Intrinsic chip component sector India, Investments in India semiconductor component sector, Leading chip component players India, Number of chip manufacturing plants India, Number of employees in Indian semiconductor sector, Number of international semiconductor distributors, Number of semiconductors designing centers India, NXIP semiconductor market revenue, Online semiconductor distribution channel India, Opportunities India semiconductor component industry, Revenue spel technology India, Samsung semiconductor market revenue India, Semiconductor chip market India, Semiconductor market trends India, South Indian chip manufacturing sector, Tata elxsi chip sector revenue, Top 5 chip manufacturers in India Emerging Players India semiconductor component sector, Top captive chip component in India, Top funded semiconductor players in India, Type of semiconductor distribution channels India, Types of chip component India, Types of semiconductor chip India, Types of semiconductor devices, Vedanta semiconductor plant