India’s semiconductor market projected to grow threefold to US$200 billion by 2035: EY-IESA report
India’s semiconductor market is projected to grow more than threefold from nearly US$64 billion in 2026 to US$200 billion by 2035, creating a significant opportunity to convert domestic demand into manufacturing, innovation and supply-chain resilience, according to EY–IESA report, Semicon India 2.0: From capacity creation to ecosystem leadership.
As per the EY–IESA report, consumer electronics accounts for 30% of India’s semiconductor market, followed by automotive at 16% and industrial applications at 15%, while AI, data centres, telecommunications, electric mobility and advanced manufacturing are creating new growth avenues. Semiconductor imports increased more than fivefold from US$5.7 billion in FY17 to US$30.3 billion in FY25, at a CAGR of 23%, highlighting the opportunity to translate expanding domestic demand into local manufacturing and innovation. India also accounts for nearly 20% of the world’s chip design engineers, providing a significant talent base to scale semiconductor manufacturing, indigenous design and commercialization.
Ashok Chandak, President, India...
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