India’s semiconductor front: Well begun is half done

The demand for semiconductors, the backbone of everything from mobile phones to cars, industrial automation to defence equipment, is surging in India. By 2030, India’s chip demand is expected to touch $117 billion, growing at ~15% CAGR, at almost twice the global pace, and constituting about 12% of global demand. In a world where ~75% of manufacturing capacity is in China, Taiwan, South Korea and Japan, India remains significantly dependent on chip imports.