India, July 11 -- As you probably already know, semiconductors have become the backbone of modern technology. Countries from China to the United States and other global powers are all racing to develop their respective semiconductor capabilities.

According to the India Electronics and Semiconductor Association (IESA) report, the semiconductor market in India is projected to increase from Rs. 4,50,164 crore (US$ 52 billion) in 2024 to Rs. 8,95,134 crore (US$ 103.4 billion) by 2030. This huge growth makes India a very attractive place to set up Global Capability Centers (GCCs) in the semiconductor industry.

The sectors driving this growth-like mobile devices, IT, handsets, and more-are expanding rapidly. Because of this, many countries ar...