India’s semiconductor industry to grow to $109 billion by 2030: MoS IT tells Lok Sabha

The Indian semiconductor industry will grow more than two-fold over the next six years to reach $109 billion by 2030, up from $38 billion in 2023, the minister of state for electronics and information technology Jitin Prasada told the Lok Sabha on Wednesday.

In his reply to a Lok Sabha question, Prasad said that four semiconductor units with a total proposed cumulative investment of Rs 1.48 lakh crore had been approved to date by the government under the India Semiconductor Mission.

Apart from the approval of four manufacturing units, the government has also approved the setting up of 13 semiconductor design companies in India, Prasad said.


Under the India Semiconductor Mission, the Indian government extends fiscal support of 50% of the project cost to construct a chip manufacturing or packaging and testing unit on a pari-passu basis. The product design-linked incentive scheme, similarly, provides fiscal incentive support of up to 50% of eligible expenditure subject to a ceiling of Rs 15 crore per application.

The scheme for the promotion of manufacturing of electronics components and semiconductors has seen an incremental investment of Rs 8803.14 crore had been made which has led to production of Rs 18,083.55 crore as of June 30, Prasada told the Lok Sabha.