India, March 19 -- India's semiconductor market is projected to nearly triple to $ 120 billion by 2030 and reach $ 300 billion by 2035, driven by the exponential adoption of artificial intelligence (AI), automotive growth, and data centre expansion, according to a report by Deloitte.

India, which currently imports over 90 per cent of its semiconductor needs, is poised for a structural shift as local production is expected to meet more than 60 per cent of domestic demand by the end of 2035, the report titled 'Technology, Media, and Telecommunications Predictions 2026' said.

"India's semiconductor market is estimated at $ 45a€"50 billion in FY2024a€"25 and has been growing at a CAGR of 20 per cent over the past three years. Th...