The recently-introduced European Chips Act aims to enable the European Union to realise its ambition of increasing its current market share of 9% in the overall global semiconductor industry to 20% by 2030.
On 15th Dec 2021, the government of India had announced a new incentive scheme worth Rs.76,000 crore INR (nearly $10.2 billion) in a bid to boost the semiconductor ecosystem in the country. In February, the government announced the details of the companies and consortiums that have applied for incentives, and in some cases, the quantum of total investment planned and the total incentives sought from the government.
Unlike in Europe, there is no target percentage or number for semiconductor fabrication (production) listed in any official policy documents or roadmaps released so far by the India semiconductor mission or any of the ministries under the government of India.
This article attempts to arrive at the quantifiable goal that India can seek to achieve.
While the semiconductor industry would predominantly mean integrated circuits (ICs or popularly known as chips), there are also related areas like Optoelectronics, Sensors and Discrete (together termed as "OSD").
Market research firms estimate the revenue of the semiconductor industry using their own methodology. For example, in January 2022, ICinsights estimated that the IC market itself crossed $500 billion in 2021, and OSD crossed $100 billion. Gartner estimates 2021 semiconductor revenue at $583.5 billion.
In February this year, the Semiconductor Industry Association (SIA) announced that the global semiconductor industry sales totaled $555.9 billion in 2021. While numbers may diverge, everyone agrees that the semiconductor industry did cross the $500 billion mark at least (counting from the time of Intel's 4004, it took 50 years to get there.)
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