Global semiconductor industry to reach $2 trillion by 2032: Report
The global semiconductor industry is poised to surge from $600 billion to $2 trillion over the next seven years, according to Krishna Bodanapu, Executive Vice Chairman and MD of Cyient.
He highlighted India’s strong chip design capabilities, contributing about 20% to the global share, and the growing domestic demand driven by smart grids, EVs, and digital infrastructure, Business Today reported.
Speaking at the launch of Cyient’s new fully-owned subsidiary, Cyient Semiconductors, Bodanapu said the spin-off allows the company to manage the unique economic and operational demands of the chip sector separately.
“Unlike services, semiconductor development requires substantial upfront investment,” he said, noting that this structure allows for focused leadership and independent performance tracking.
While the firm has no immediate IPO plans, Bodanapu sees a long-term opportunity in India’s transformation from a service provider to a deep-tech manufacturing hub.
He credited government support and India’s engineering talent as key enablers, calling the shift “a once-in-a-lifetime opportunity” to build globally relevant semiconductor solutions from India.
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