India, Sept. 18 -- Ajit Manocha, President and CEO, SEMI, got into a discussion along with Mark Patel, Senior Partner, McKinsey.

The global semiconductor industry is growing like never before. It should reach $2 trillion by 2030. In India, 12 projects have been approved. India demand has been doubling. Chip demand should be $100-$110 billion by 2030. The world demand is growing at ~60%.

Manocha said IoT started connecting all devices. He had made the prediction in 2017 that the semiconductor industry will reach $1 trillion. Couple of years later everybody started going with him. This year, we found out we had exceeded $1 trillion. AI is the key driver and revolution. AI-enabled chips are going through the roof, and so is the industry. W...