India's semiconductor market to touch $64 bn by 2026
Technology

India's semiconductor market to touch $64 bn by 2026

According to a new report, India's semiconductor market will reach $64 billion by 2026, nearly tripling its current size of $22.7 billion. The telecom stack and industrial applications in the country will account for two-thirds of the total market share.

According to a report by Counterpoint Research and the India Electronics & Semiconductor Association (IESA), domestic and export markets will drive semiconductor chip manufacturing in India, with significant demand from the consumer electronics, telecom, IT hardware, and industrial sectors.

"In the short term, there is a huge opportunity being driven by domestic demand across applications like sensors, logic chips, and analogue devices," Tarun Pathak, research director at Counterpoint, said.

He went on to say that local sourcing is already significant, accounting for 10% of the overall market in 2022.

"India is committed to becoming a reliable partner in global supply chains," said Amitesh Kumar Sinha, CEO of India Semiconductor Mission and joint secretary of the Ministry of Electronics and Information Technology, "and we are working towards that by framing long-term policies with the next 25 years in mind."

The Centre funds 50% of the costs of semiconductor manufacturing projects under its Semicon India Programme, which has an outlay of approximately $10 billion, with 2.5 percent of the budget earmarked for research and development, skill development, and training.

"More than 70% of the project costs for semiconductor manufacturing in India are incentivized by the Centre and state governments, with the Centre funding 50% upfront and the state governments covering the rest," Sinha added.

The Centre is also attempting to entice major US corporations to locate their chip manufacturing facilities in India. Micron is planning to open a plant in India in the coming months. According to Business Standard, IT and Communications Minister Ashwini Vaishnaw met with top executives from US companies in San Francisco on Wednesday.

"The meetings were very fruitful, and the message was clear: India is without a doubt the next big destination for everyone in semiconductors to invest in," Vaishnaw told Business Standard over the phone.

Over the next two days, Vaishnaw plans to meet more executives from Intel, Micron, Western Digital, Applied Materials, HP, Analog Devices, Lam Research, and AMD, among others.

Also Read
Rajasthan CM Ashok Gehlot inaugurate projects worth Rs 211 crore
JSW Infra seeks expansion plans via IPO

According to a new report, India's semiconductor market will reach $64 billion by 2026, nearly tripling its current size of $22.7 billion. The telecom stack and industrial applications in the country will account for two-thirds of the total market share. According to a report by Counterpoint Research and the India Electronics & Semiconductor Association (IESA), domestic and export markets will drive semiconductor chip manufacturing in India, with significant demand from the consumer electronics, telecom, IT hardware, and industrial sectors. In the short term, there is a huge opportunity being driven by domestic demand across applications like sensors, logic chips, and analogue devices, Tarun Pathak, research director at Counterpoint, said. He went on to say that local sourcing is already significant, accounting for 10% of the overall market in 2022. India is committed to becoming a reliable partner in global supply chains, said Amitesh Kumar Sinha, CEO of India Semiconductor Mission and joint secretary of the Ministry of Electronics and Information Technology, and we are working towards that by framing long-term policies with the next 25 years in mind. The Centre funds 50% of the costs of semiconductor manufacturing projects under its Semicon India Programme, which has an outlay of approximately $10 billion, with 2.5 percent of the budget earmarked for research and development, skill development, and training. More than 70% of the project costs for semiconductor manufacturing in India are incentivized by the Centre and state governments, with the Centre funding 50% upfront and the state governments covering the rest, Sinha added. The Centre is also attempting to entice major US corporations to locate their chip manufacturing facilities in India. Micron is planning to open a plant in India in the coming months. According to Business Standard, IT and Communications Minister Ashwini Vaishnaw met with top executives from US companies in San Francisco on Wednesday. The meetings were very fruitful, and the message was clear: India is without a doubt the next big destination for everyone in semiconductors to invest in, Vaishnaw told Business Standard over the phone. Over the next two days, Vaishnaw plans to meet more executives from Intel, Micron, Western Digital, Applied Materials, HP, Analog Devices, Lam Research, and AMD, among others. Also Read Rajasthan CM Ashok Gehlot inaugurate projects worth Rs 211 crore JSW Infra seeks expansion plans via IPO

Next Story
Real Estate

Swamiraj Rebrands as House of Swamiraj, Announces Rs 210 Cr Project

In a strategic shift marking its evolution from a reputed builder to a lifestyle-focused brand, Swamiraj Constructions has rebranded as House of Swamiraj. With a two-decade legacy and over 1,700 homes delivered across the Mumbai Metropolitan Region (MMR), the company is embracing a new phase centred on community-driven, wellness-oriented living. The rebranding was unveiled via a digital campaign titled #BeyondDimensions, executed in three phases—teaser, engagement, and launch. The campaign spotlighted the brand’s renewed commitment to designing homes that go beyond function to foster ..

Next Story
Resources

Morpho Dimensions Set to Cross Rs 1 billion Revenue in FY 25–26

Morpho Dimensions, a venture of acclaimed architecture and design firm Morphogenesis, is transforming India’s office interiors landscape with a technology-first, design-led approach. With a secured orderbook of Rs 700 million and additional projects in the pipeline, the firm is confidently on track to cross Rs 1 billion in revenue in FY 2025–26. By combining Artificial Intelligence (AI), Building Information Modelling (BIM), and Virtual Reality (VR), Morpho Dimensions enables clients to visualise and step into immersive, ready-to-operate workspaces within 90 days—ushering in a new bench..

Next Story
Real Estate

TOTO’s NEOREST Surpasses 4 Million Global Shipments

TOTO has announced that its flagship smart toilet, NEOREST, has surpassed 4 million global shipments as of March 2025, marking a major milestone in the evolution of luxury sanitation and setting a new global benchmark in design-led hygiene innovation. Launched in 1993 with the aim to redefine conventional toilets, NEOREST has consistently merged cutting-edge technology with minimalist design. Over three decades, it has become a category-defining product, earning global acclaim with prestigious honours including the iF Design Award, Red Dot, and Green Good Design Awards. The integrate..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?