The Indian semiconductor industry can grow to $40 billion by 2030 by promoting the ecosystem around supply chain, including chemicals and gases involved in the making of electronic chips, a senior official of industry body IESA said on Friday.

Speaking at IESA Vision Summit, India Electronics and Semiconductor Association (IESA) President Ashok Chandak said India needs to learn from the global centers of semiconductors as it is a very complex technology.

“Any chip making touches at least more than 10 countries. It is very complicated. If we have to make semiconductor manufacturing successful in India, we have to take care of the supply chain that includes gases, the chemicals, materials, and most of the supply chain has to happen with the plants that are going to manufacture semiconductors,” Chandak said.

He said that in 2022, IESA had released a report on tha groundwork that needs to be done from the semiconductor ecosystem and it has now released a report which details out all the manufacturing cases for India.

"Overall, we estimate that the supply chain related market worldwide is going to increase to USD 420 billion by 2030 and if we aspire about 10 per cent share that means we are looking at a possible opportunity of USD 40 billion. This could happen through some of the global companies moving their base to India to make for India and also for exporting," Chandak said.