The newly-formed ICEA Semiconductor Product Design Leadership Forum aims to create at least USD 50 billion worth of indigenously-designed semiconductor products and create around a million highly paid jobs, said Pankaj Mohindroo, Chairman of ICEA.
India Cellular and Electronics Association (ICEA), the apex industry body representing the electronics and semiconductor sector, today announced the launch of the 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.
Projections presented at the launch of the Forum today highlighted a USD 120 billion domestic semiconductor market by 2030, with the sector poised to generate over one million jobs, contribute 3-5 per cent to the country’s GDP, and deliver USD 30 billion in annual exports.
The Forum believes India has exceptional semiconductor research and design talent, but lacks commercialisation infrastructure.
The Forum is chaired by Sandeep Kumar, Chief Executive, L&T Semiconductor Technologies. It will bring together leaders from across the design ecosystem, including fabless firms, IP providers, tool vendors, and system integrators, to address structural challenges and shape a forward-looking roadmap for design-led semiconductor growth.
In June 2023, the government approved the first proposal for establishing a semiconductor unit in Sanand.
As of the date, the government has approved 10 semiconductor manufacturing projects with a cumulative investment of more than Rs 1.60 lakh crore in six states: Gujarat, Assam, Uttar Pradesh, Punjab, Odisha, and Andhra Pradesh.
He suggested that India has to chart its own path and strategy in the semiconductor ecosystem and not copy the tried-and-tested methods used by other major semiconductor majors.
By 2035, India’s semiconductor industry is poised to contribute to the country’s GDP, the L&T official said. (Inputs from ANI)
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Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
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