India's Semiconductor Demand to Hit $100-120 Billion by 2030: L&T CEO

India's semiconductor consumption is expected to scale to upwards of USD 120 billion market by 2030, a sizable increase from the current USD 24 billion offtake, Sandeep Kumar, CEO, L&T Semiconductor Technologies Ltd, and Chairman of the newly-formed Semiconductor Product Leadership Forum, said.

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"India doesn't manufacture semiconductors as of now. We definitely use it. We consume about USD 24 billion worth semiconductors and it is expected to rise to upwards of USD 100-120 billion by 2030. When India starts to produce those chips, our share will definitely rise," Sandeep Kumar told ANI.

India Cellular and Electronics Association (ICEA), the apex industry body representing the electronics and semiconductor sector, today announced the launch of ICEA Semiconductor Product Design Leadership Forum. This strategic platform is designed to position India as a global leader in semiconductor product design, IP creation, and high-value innovation.

"Making semiconductors need collaboration of multiple companies. This forum is to create an ecosystem so that we can create hundreds of these companies in India, enable the entrepreneurs and enable the bigger companies," the L&T official said.