Bengaluru (Karnataka) [India], Feb 28 (ANI): India Electronics and Semiconductor Association (IESA), the premier trade body, representing the Indian electronic system design and manufacturing space in collaboration with MarketsAndMarkets launched an industry report on - Indian semiconductor fabless startup ecosystem at this year's Vision Summit.
It has revealed that the Indian semiconductor component market is expected to be worth USD 32.35 billion by 2025, growing at a CAGR of 10.1 percent between 2018 and 2025.
The report was launched by Ashwini K Aggarwal, Chairman, IESA; Anilkumar Muniswamy, Director, SLN Technologies Ltd. and Jitendra Chaddah, Chair, Fabless CIG and Senior Director, Strategic Relations and Operations, Intel India on Day 1 of IESA's annual flagship event - Vision Summit.
The key trends identified in the report include smart industrial automation, defense and rural broadband.
It elaborates on the Indian semiconductor design ecosystem; and highlights the various opportunities for major global semiconductor players to consider India as their global R&D destination.
The report further reveals that India is a highly attractive destination for global R&D centers owing to the availability of talent, as well as lower cost, compared with the US and Western Europe.
The Vision Summit is a global leadership conclave for the Electronics System Design & Manufacturing (ESDM) industry.
Priyank M Kharge, Minister for IT, BT and S&T, government of Karnataka speaking at the inaugural keynote of the 13th IESA Vision Summit said, "Keeping with the IESA Vision Summit theme on Resurgent India Electronics, Entrepreneurship and Economy, Bangalore has emerged as the hub in the country providing for innovation, entrepreneurship and invention. We have put in place policies and framework to ensure that the ecosystem is favourable to more partnerships, access to funds, ease of business, networking in the domestic and international market and more importantly, inculcating skillsets for the future through our Centre of Excellences within the city".
"Along with the support of IESA, we want to inculcate a fabless ecosystem to propel the ESDM sector and encourage manufacturing not only in the state but in the rest of the country too. We have also providing opportunities through our programme Evevate100 to encourage innovation across all regions of Karnataka," Kharge added.
"We are witnessing the rise of a new India with a stable government clearing policy logjams, taking bold decisions and ambitious targets. With digital as the growth hack and aggressive engagement from the government's "Make in India" campaign, the ESDM industry will benefit and is projected to see investment proposals over USD 1.5 billion over next two years. We believe that now is the time to build the future of design led manufacturing. The fabless report clearly highlights the opportunities for the Indian fabless ecosystem. This year's theme at IESA Vision Summit 2018 is dedicated towards building the industry success by highlighting opportunity areas and addresses the challenges being faced," said Chairman, IESA, Ashwini K Aggarwal.
This year, the theme is Resurgent India: Electronics, Entrepreneurship and Economy attracted a powerful line-up of industry experts, thought leaders, policy makers, government officials, business and technology experts, venture capitalists, entrepreneurs who shared their views and vision on the future of the ESDM industry as well as the trends, challenges, and opportunities shaping the Indian industry. (ANI)