India's Semiconductor Market to Reach $300 Billion by 2035

A Deloitte report, 'Technology, Media, and Telecommunications Predictions 2026', projects India's semiconductor market to reach $120 billion by 2030 and $300 billion by 2035. This growth is attributed to the exponential adoption of AI, automotive growth, and data center expansion. India aims to meet over 60% of its domestic semiconductor demand through local production by 2035, a significant increase from the current import reliance of over 90%. The India===India Semiconductor Mission and state-level incentives have already attracted over $19 billion in manufacturing investments, with an additional $120 billion expected by 2035. This expansion is also forecast to create approximately 2 million jobs by 2035. Deloitte emphasizes the need for strong policy execution and coordination between central and state governments to sustain this momentum.