The global semiconductor industry has been experiencing significant growth in recent years, driven by the increasing demand for consumer electronics and the emergence of transformative technologies such as artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML). India is one of the world’s emerging players in this sector, with its semiconductor market estimated to reach over $64 billion by 2026 and $110 billion by 2030. In May 2023, the Semiconductor Industry Association (SIA) reported global semiconductor industry sales of $40.7 billion, a 1.7% increase from the previous month. To further develop India’s semiconductor market, India and the United States have partnered through the Critical and Emerging Technology (iCET) initiative.
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