India’s semiconductor industry holds the potential to grow to a staggering $40 billion by 2030, provided the country strengthens its supply chain ecosystem, including critical components such as chemicals and gases used in chip manufacturing, according to a new report released by the India Electronics and Semiconductor Association (IESA).
Speaking at the 19th IESA Vision Summit held in Gandhinagar, IESA President Ashok Chandak emphasised the need to learn from global semiconductor hubs, noting the intricate nature of the technology and the significant role of a well-developed supply chain.
“Any chip-making process touches at least 10 countries. It is a very complex ecosystem,” Chandak said. “To make semiconductor manufacturing successful in India, we must focus not just on chip fabs but also on the broader supply chain — gases, chemicals, materials — all of which must be produced in proximity to the manufacturing plants.”
The IESA’s latest report highlights that India will require around 1.5 million skilled workers and 5 million semiskilled workers across the semiconductor value chain by 2026-2027. Job roles in high demand will include equipment engineers, processing technicians, IC testing engineers, capacity planning managers, and professionals in packaging, logistics, and chemical engineering.
“With the current framework, the Indian semiconductor industry can realistically grow to $10 billion by 2030,” Chandak said. “However, with targeted supply chain development and support from global players, we can scale up to a potential of $40 billion, especially if companies shift part of their operations to India for both domestic needs and exports.”
According to IESA’s estimates, the global supply chain market for semiconductors is expected to reach $420 billion by 2030. India, with a 10% share, could potentially tap into $40 billion of this global opportunity.
“Such growth could be driven by multinational companies moving their manufacturing base to India, boosting both local capability and export potential,” Chandak added.
Reflecting the growing international interest in India’s semiconductor ambitions, the 19th edition of the IESA Vision Summit saw participation from over 250 international leaders alongside Indian stakeholders. The event registered 2,400+ participants, with 1,750 attendees at the inaugural session.
More than 30 Memorandums of Understanding (MoUs) were signed at the summit, including notable agreements between Tata Electronics and global players like PSMC and Himax.
“Semiconductors are not just another industry — they are a pillar of the digital revolution,” Chandak remarked. “This summit’s scale and participation underline the strong interest from global firms in partnering with India.”
As India rolls out the Semicon India Program and prepares for Semicon Mission Phase 2, the momentum in semiconductor design, manufacturing, and ecosystem development is expected to grow even further.
While challenges remain — including the need for infrastructure, skilled manpower, and policy support — the IESA report makes it clear: with the right ecosystem, India could become a global semiconductor powerhouse by 2030.
