New Delhi, March 25 -- India's semiconductor industry is growing but faces significant challenges such as an underdeveloped supply chain, a shortage of specialized manufacturing talent, global competition, and rapidly evolving technology, according to a report by Jefferies.

The report highlighted that while India has several key advantages, including a strong engineering talent pool and government support, it must overcome hurdles to establish a competitive semiconductor ecosystem.

It said, "The industry also needs to navigate through the challenges of an undeveloped supply chain, limited specialized manufacturing talent, stiff global competition, and rapidly evolving technology."

One of the biggest challenges is the limited availabili...