Automotive, telecom and power sectors will drive the growth rate of the semiconductor industry in the country, despite the decline in the global growth rate.

“The automotive, telecommunication and power distribution segments represent a significantly growing market for microcontrollers in India,” Steve Sanghi, President and CEO, Microchip Technology, told reporters on Tuesday. “The global growth trend in the semiconductor market was less than optimistic. Though earlier the global semiconductor market had witnessed a double digit rise in the past 5-10 years, of late the growth had slowed down to 7-8 per cent with major challenges for the industry, ” Mr Sanghi said.

Though the Indian semiconductor market currently represents only one per cent of the global market of $ 280 billion, its growth rate is higher than that of the global average.