Odisha CM Majhi lays stone for Rs 2.5K crore SiCSem semicon facility
BHUBANESWAR: CM Mohan Charan Majhi on Tuesday laid the foundation stone of a compound semiconductor electronics manufacturing facility of SiCSem during the Utkarsh Odisha conclave.
SiCSem is investing Rs 2,500 crore for the project. The facility will integrate the entire process of manufacturing power devices starting from raw materials to silicon carbide crystal ingot growth, wafer slicing and polishing and the process of fabrication.
The processes will lead to manufacturing of electronic power devices that will cater to key sectors such as electric vehicles, energy storage, fast chargers, green energy, industrial tools, data centres, consumer appliances and many other appliances. The state government had allotted 14.32 acre land at Infovalley-II for the project.
On this occasion, Union minister for Electronics and IT (MeitY) Ashwini Vaishnaw unveiled the ‘India Semiconductor Market Report 2030’ prepared by Indian Electronics and Semiconductor Association (IESA).
The report presents an in-depth analysis of India’s semiconductor market from 2023 to 2030, covering key industries such as handsets, IT, telecom, consumer electronics, automotive, aerospace, and defence. It also provides actionable insights into critical components like processors, memory, connectivity, and power solutions, along with recommendations for increasing local sourcing.
According to the report, focusing on local semiconductor design and manufacturing while reducing import dependency will be crucial to strengthening India’s position in the global electronics ecosystem and retaining economic value.
Highlighting the report’s findings, president of IESA Ashok Chandak said India’s semiconductor market is projected to grow to $103.4 billion by 2030, powering the $400 plus billion electronics market.
“The government’s targeted incentives for FABs and OSATs, increased R&D investments, and collaborative industry initiatives are key to propelling India’s semiconductor sector forward with significant investment commitments of over $21 billion by IESA member companies in last one year,” he said.
IESA chairman V Veerappan emphasised the market’s expansion. He said the country’s semiconductor consumption market, valued at $52 billion in 2024-25, is expected to grow at a robust CAGR of 13 per cent by 2030.
Sectors like automotive and industrial electronics will offer significant value-addition opportunities while mobile handsets, IT, and industrial applications, which together contribute nearly 70 per cent of the revenue will remain the primary growth drivers, he added.
