S. Krishnan, Secretary of the Ministry of Electronics and Information Technology, emphasized India’s potential to emerge as a key global player in the semiconductor industry, a critical sector for the nation. He highlighted that the government is actively supporting industries in developing the necessary ecosystem for semiconductor manufacturing. Krishnan delivered these remarks at a conference hosted by iVP Semiconductor Pvt Ltd, a fabless semiconductor firm, held recently.
He underscored the significance of the semiconductor industry, citing projections from McKinsey indicating its potential to reach trillion-dollar status globally. The India Electronics and Semiconductor Association (IESA) forecasts the sector to achieve a USD 100 billion valuation by 2030. Krishnan noted India’s rapid growth as a major market for electronics, automotive, and electric vehicles, coupled with its expanding technical expertise.
Regarding iVP Semiconductor Pvt Ltd, Krishnan commended the company’s role in stimulating demand and filling manufacturing capacities in wafer fabrication. He congratulated the firm on its establishment as an Indian fabless chip company. Meanwhile, Raja Manickam, Co-founder of iVP Semiconductor, disclosed the company’s securing of USD 5 million in pre-Series A funding. He outlined plans for establishing production test facilities in Chennai and South India, aiming for revenues between USD 70 million to USD 100 million over the next 3-4 years.
