India is poised to become a major player in the global semiconductor industry in 2024, driven by the increasing demand for consumer electronics, automotive components, and the widespread adoption of artificial intelligence (AI). With the construction of Micron Technology’s Assembly, Testing, Marking, and Packaging (ATMP) facility underway in Gujarat, India, the country is set to roll out its first domestically-produced chip by the end of the year. This milestone marks a significant step forward for the Indian semiconductor market.
Furthermore, the Indian government is exploring the development of indigenous AI chips, considering a public-private partnership model under the India Semiconductor Mission (ISM). This initiative aims to create computing infrastructure for startups and researchers in the country, with a focus on graphics processing units.
In addition to technological advancements, the semiconductor industry in India is expected to drive job creation in 2024. Companies like AMD and Micron have already announced investments that will generate 80,000 direct and indirect jobs. To meet the rising demand for skilled workers, the Design-Linked Incentive scheme aims to create 250,000 jobs by 2030, primarily in chip design engineering.
While the industry offers promising opportunities, it also faces challenges. The shortage of skilled workers, potential economic slowdowns, supply chain disruptions, geopolitical tensions, and rising costs pose hurdles for growth. However, the sector continues to provide competitive compensation, job security, and meaningful work, making it an attractive option for job seekers.
The semiconductor industry in India also presents unique opportunities for startups. By focusing on niche markets, leveraging government support, and capitalizing on domestic demand, Indian startups have the potential to carve out a significant space in the global semiconductor landscape. Despite challenges such as funding limitations, talent acquisition, and competition from established players like Nvidia, AMD, and Intel, Indian semi-startups can thrive with the support provided by the ISM initiatives.
Looking ahead, the overall semiconductor market in India is projected to reach $55 billion by 2026, with a compound annual growth rate (CAGR) of 20% during 2022-2026. The integration of edge computing with enhanced connectivity and security is expected to drive transformative changes across various industries.
As India positions itself as a key player in the semiconductor arena, its achievements and growth in 2024 will contribute significantly to the global semiconductor landscape, shaping the future of technology and innovation.
The source of the article is from the blog elperiodicodearanjuez.es