Semicon India plans to launch by the end of this month
The Indian government said it will officially launch Semicon India at the end of April, marking the country's first large-scale semiconductor event and demonstrating its determination to develop its own semiconductor supply chain.
Photo source: All India Radio
The Semicon India 2022 will be held in Bangalore from April 29 to May 1, according to a press release issued by the Ministry of Electronic Information Technology, All India Radio reported. Micron CEO Sanjay Mehrotra, Cadence CEO Anirudh Devgan, and SEMI President Ajit Manocha are expected to attend the conference. The Indian government will sign a number of memoranda of understanding during the meeting.
Mint and Business Standard reported that a recent report by the Indian Institute of Electronics and Semiconductors (IESA) predicted that the size of India's semiconductor market will grow from $27.15 billion in 2021 to $64.05 billion in 2026.By 2030, India will account for $85 billion to $100 billion of the $550 billion to $600 billion annual global semiconductor market。
IESA estimates that 80% of India's semiconductor revenues come from mobile phones, smart wearables, IT and industrial components. The semiconductor market for the telecommunications industry is expected to grow at a CAGR of 34% between 2021 and 2026. In addition, the automotive industry is driving demand for semiconductors and will encourage the development of the electric vehicle sector, according to IESA.