Business Standard

Only 9% of India's semiconductor needs fulfilled locally in 2021: IESA

The Indian semiconductor market was valued at $27 billion in 2021 and is expected to grow at a healthy CAGR of 16% from 2019 to 2026 to reach $64 billion in 2026, says IESA report


Deepsekhar Choudhury Bengaluru
Only 9 per cent of India’s semiconductor requirements were sourced locally last year, according to a report by the industry body Indian Electronic and Semiconductors Association (IESA). 

However, the government’s ‘Make in India’ and product-linked incentive (PLI) policies for semiconductors are expected to be a game-changer for the space, driving local sourcing further and local procurement will grow by over 17 per cent by 2026. According to the report, some of the primary growth drivers include accelerated digitisation, dependence on complex electronic systems to process vast amounts of data, and the increasing use of technologies like artificial intelligence (AI). 


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First Published: Apr 18 2022 | 1:39 PM IST

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