India Will Become A Force In Semiconductors By 2010India Will Become A Force In Semiconductors By 2010

India is poised to become a major player in the semiconductor industry, according to a new report.

The country's growing semiconductor consumption and an acceleration in electronics manufacturing there will make India a force to be reckoned with in just three years time, according to In-Stat, an industry analyst firm.

"The semiconductor ecosystem, which is currently dominated by design services and embedded software, will be in place by 2010 with the setting up of planned semiconductor manufacturing facilities," said Mayank Jain, an In-Stat analyst, in a written statement. "Thus, by 2010, India will have the entire semiconductor industry in place, and will be in the reckoning among other Asian semiconductor manufacturing countries."

According to In-Stat, India also is one of the fastest growing semiconductor-consuming markets in the world. Analysts say the swift rise of the country's middle class is driving that market at "an astounding pace." The analyst firm's research shows that the Indian semiconductor market was valued at $1.18 billion in 2005 and they forecast that to nearly double by 2010, hitting $3.09 billion.