“The ESDM sector in India, which is expected to grow at a CAGR of 16.1%, presents a golden opportunity for industries to manufacture in India for the world and to realize the Atma Nirbhar Bharat initiatives,” said Narayan.
Speaking on “The Accelerated Growth of ESDM in India – The Decisive Decade” at the 16th edition of the Indian Electronics & Semiconductor Association (IESA) Vision 2021 Summit, he said: “The ESDM Industry in the country is expected to reach 220 billion USD by 2025 has the potential to create 1,000 start-ups, 10,000 IPs (intellectual property) and 10 lakhs of jobs. ”
Electronics production has the potential to generate around 1 crore of jobs by 2050. Many fields and sectors in India such as agritech, medical devices, telemedicine, industry 4.0, consumer electronics, space and defense depend on how the Indian electronics industry flourishes, he says.
Noting that the size of the electronics market in India exceeds $ 300 billion, and the country’s share in global electronics manufacturing has steadily increased since 2012, Narayan said that although currently India has over 100 billion Semiconductor design service companies offering semiconductor design to its global customers, it needs to go even further to become self-sufficient in semiconductor design and manufacture.
Citing the political initiatives of the Center while expressing confidence that there will be a push for the manufacture of silicon chips and compound semiconductors in the country, he said that the state, intending to create a appropriate ecosystem, had specific sector policies including engineering R&D policy, KDEM, Beyond Bengaluru, among others.