<ul data-eligibleForWebStory="false"><li>McKinsey suggests that India needs government incentives and partnerships with global technology giants to boost its semiconductor industry and reduce import dependency.</li><li>India's semiconductor market is projected to reach over USD 100 billion by 2032 from USD 34 billion in 2023, with a focus on design capabilities.</li><li>Large-scale projects and government incentives aim to enhance India's semiconductor industry, supported by a strong talent pool and growing start-up ecosystem.</li><li>Challenges in semiconductor fabrication include high capital requirements, limited access to technologies, and gaps in the supply chain, prompting the need for collaborations with global semiconductor companies.</li></ul>

Centre's semiconductor push could cut chip imports by $20 bn: McKinsey

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