New Delhi, Aug. 18 -- With about 60 per cent of semiconductor output by the Asia-Pacific region, which continues to dominate global production, India is fast emerging as a key player. The country's semiconductor market, valued at USD 34.3 billion in 2023, is expected to triple to USD 100.2 billion by 2032, registering a CAGR of 20 per cent.

The global semiconductor industry is on track for strong expansion, with its market size projected to touch USD 1 trillion by 2030, growing at a compound annual growth rate of nearly 10 per cent between 2023 and 2030, according to a Union Bank of India Research report.

India's role in the global supply chain is already visible. In 2022, the country exported semiconductor devices worth USD 516 million...