India, Aug. 19 -- A report released by an Indian bank has shown India's semiconductor market, valued at USD 34.3 billion in 2023, is expected to triple to USD 100.2 billion by 2032.

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, ANI news agency reported quoting the Union Bank of India Research report.

"Different semiconductor units are being set up on the ground. We have already given the green signal to four new units," Modi said in his Independence Day speech from Red Fort where he unfurled the tricolour to join the nation in the celebration.

The Union Cabinet on Au...