Indian Semiconductors Industry Presentation (January 6, 2009)

1. S e m i c o n d u c to r
december 2008
www.ibef.org

2. Se m i c o n d u c to r
december 2008
contents
• Semiconductor Sector – overview
• Semiconductor – An upcoming Sector
• regulatory Framework in the Semiconductor Sector
www.ibef.org

3. Semiconductor
Sector – overview
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4. Se m i c o n d u c to r S e c to r –overview
december 2008
indian Semiconductor – A Sunrise Sector
Indian Semiconductor Sector
the semiconductor sector comprises pre-fabrication,
fabrication (fab) and post-fabrication verticals. in the
last four years, the indian semiconductor market has
grown from about uS$ 2.1 billion to about uS$ 4.1
billion. Further, semiconductor market is expected
to reach uS$ 9.8 billion in 2012. india accounted for
1.3 per cent of the global semiconductor revenue in
2007. the country’s share is expected to reach 1.62
per cent by 2009 at a cAGr of 26.7 per cent. the
demand for semiconductor solutions, the heart of the
electronic systems, is also expected to get a fillip as
the consumption of electronic equipment in india is
expected to grow at a cAGr of 29.8 per cent over
2005–2015 to uS$ 363 billion.
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5. Se m i c o n d u c to r S e c to r –overview
december 2008
indian Semiconductor – A Sunrise Sector
Indian Semiconductor Sector
• the growing demand for it hardware and office
automation products, and consumer electronics products
such as mobile phones, automotive products, etc., is
spurring the demand for semiconductor and a full-fledged
semiconductor ecosystem in india.
• the major semiconductor end-user segments have
been identified as communications, it and consumer
electronics. At the same time, the important product sub-
categories that are expected to drive the semiconductor
market in india are mobile handsets, wireless equipment,
set-top boxes and smart-card terminals.
• Semiconductor are poised to impact human life far
more as they open up new possibilities in nano-sciences,
biotechnology, medical sciences, electro-mechanical
devices, photonics, remote sensing and so on. while still
in its nascent stages, the semiconductor sector in india
posseses immense potential to emerge as a global hub.
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6. Se m i c o n d u c to r S e c to r –overview
december 2008
Share of the indian Semiconductor Sector in the global semiconductor
market is expected to increase to 1.6 per cent by 2009
the semiconductor sector involves pre-fabrication, Semiconductor market in india (2003-2009)
fabrication (fab) and post-fabrication verticals. 2009E 5.5
the semiconductor segment can be divided into 2008E 4.4
semiconductor designing, semiconductor manufacturing 2007 4.1
and semiconductor AtmP. 2006 2.7
2005 2.8
2004 2.1
2003 1.6
0 1 2 3 4 5 6
US$ billion
Source: ISA 2007 report, FS
www.ibef.org

7. Se m i c o n d u c to r S e c to r –overview
december 2008
Share of the indian Semiconductor Sector in the global semiconductor
market is expected to increase to 1.6 per cent by 2009
Accrding to an iSA 2007 report, the indian Percentage Share of the indian Semiconductor market in
the Global Semiconductor market (2006-09)
semiconductor market has grown from approximately
2009E 1.62
uS$ 2.6 billion to approximately uS$ 4.1 billion. 2008E 1.42
the semiconductor market is expected to grow from 2007E 1.27
uS$ 2.7 billion in 2006 to uS$ 5.5 billion in 2009. 2006 1.09
the country accounted for 1.09 per cent of the global 0.00 0.35 0.70 1.05 1.40 1.75
semiconductor revenue in 2006 and this share is Percentage
Source: ISA 2007 report FS
expected to reach 1.62 per cent by 2009, which
will represent a cAGr of 26.7 per cent.
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8. Se m i c o n d u c to r S e c to r –overview
december 2008
reasons for growth in the semiconductor sector
the semiconductor design requirements of verticals
Growth in the Chip Design
Significant export potential
such as automotive, electronics, telecommunications, industry
commercial electronics and it hardware and office
automation, provide an opportunity to multinational
companies to enter into india and tap the potential.
Reasons for growth in the
semiconductor sector
Increased semiconductor Unprecedented growth in
content in the electronic domestic consumption of
industry electronic goods
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9. Se m i c o n d u c to r S e c to r –overview
december 2008
telecom segment is expected to be the main growth
driver in the Semiconductor Application market
• the it and office Automataion segment along total Semiconductor Product market in 2006
with the telecom segment dominate the demand
8%
8%
for semiconductor products in india. these two 3% 2%
6%
segments control more than 75 per cent of the 6%
8%
total semiconductor requirement in the country. 7%
44%
46%
• the telecom segment is the largest application
segment contributing to the semiconductor market. 30%
According to iSA, it registered a market share of 32%
approximately 43 per cent in 2006 and is expected
to grow to 46 per cent by 2009. n Telecom n IT OA n Consumer Electronics n Industrial n Automotive n Others
Source: ISA 2007 report, FS
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10. Se m i c o n d u c to r S e c to r –overview
december 2008
Semiconductor design revenues expected to witness cAGr of 29.5 per cent
india is on the world map in chip designing; the total Semiconductor designing market in india
growing production and consumption of electronics 2015E 43.1
2014E
across various sectors is further driving growth of 35.4
2013E 29.0
semiconductor designing in the country. According 2012E 23.7
to data provided by iSA the semiconductor designing 2011E 18.5
segment generated revenues worth uS$ 6 billion in 2010E 14.4
2007 and is expected to reach approximately uS$ 2009E 11.2
14.4 billion and uS$ 43.1 billion by 2010 and 2015, 2008E 8.6
2007E
respectively. during 2005–2015, it is expected to 6.6
2006E 4.6
register growth at a cAGr of approximately 29.5 per 2005 3.3
cent. 2004 2.4
0 5 10 15 20 25 30 35 40 45 50
US$ billion
Source: ISA 2007 report, FS
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11. Se m i c o n d u c to r S e c to r –overview
december 2008
Semiconductor design revenues expected
to witness cAGr of 29.5 per cent
the growth in the indian semiconductor design market engineering workforce employed by indian
Semiconductor design market
is expected to lead to growth in the engineering
2015E
workforce employed by this segment. According to the 0.78
2014E 0.65
iSA, it employed an estimated 0.13 million engineers 2013E 0.55
in 2007 and the employment figure is likely to grow to 2012E 0.45
0.29 million by 2010 and 0.78 million by 2015, growing 2011E 0.36
at a cAGr of approximately 27 per cent during 2010E 0.29
2005–2015. 2009E 0.23
2008E 0.18
2007E 0.10
2006E 0.10
2005 0.07
0 0.15 0.30 0.45 0.60 0.75 0.90
in million
Source: ISA 2007 report, FS
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12. Se m i c o n d u c to r S e c to r –overview
december 2008
embedded software is a leading segment in semiconductor designing
• iSA-Frost Sullivan report on the indian indian Semiconductor design market revenue Break-up
semiconductor sector estimates that the number of 2007 2015 E
chip designs executed in india will increase at a cAGr
1.64%
of 13 per cent from 320 in 2005 to 1,075 in 2015. 0.36% 0.78% 5.09%
• revenue of the different sub segments – embedded
software,vLSi design and hardware/board design – is
expected to register a cAGr of approximately 30 per
cent, 24 per cent and 27 per cent, respectively, from
2005 to 2015. 36..34%
4.86%
n VLSI Design n Embedded software n Hardware/Board Design
Source: ISA, FS,The Economic Times
1 www.ibef.org

13. Se m i c o n d u c to r S e c to r –overview
december 2008
competitive landscape in semiconductor designing
At present, the top 10 fabless design companies and Foreign and domestic companies operating in Semiconductor
designing Segment
19 of the top 25 semiconductor companies have their
VLSI DESIGN COMPANIES IN INDIA
operations in india. Foreign Companies Domestic Companies
Freescale Semiconductor, Inc. TATA Consultancy Services Ltd.
Intel Corporation Wipro Technologies Ltd.
National Semiconductor Corporation Tata Elxsi Ltd.
Texas Instruments, Inc. Sasken Communication Technologies Ltd.
NXP Semiconductor MindTree Consulting Ltd.
Cisco Systems, Inc. HCL Technologies Ltd.
Tessolve, Inc. Hexaware Technologies Ltd.
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14. Se m i c o n d u c to r S e c to r –overview
december 2008
competitive landscape in semiconductor designing
there are 125 integrated chips (ic) design companies EMBEDDED SOFTWARE COMPANIES IN INDIA
Foreign Companies Domestic Companies
operating in india and almost 50 per cent of the Alcatel-Lucent HCL Technologies Ltd.
semiconductor design work in the country is carried Cisco Systems, Inc. Ittiam Systems
out in the areas of wireless and wired communications. NXP Semiconductor Satyam Computer Services Ltd.
Intel Corporation Wipro Tecnologies Ltd.
Flextronics International Ltd. TATA Consultancy Services Ltd.
D-Link Corporation MindTree Consulting Ltd.
Embedded Communications Computing Group Tata Elxsi Ltd.
HARDWARE/BOARD DESIGN COMPANIES IN INDIA
Foreign Companies Domestic Companies
Cisco Systems, Inc. Wipro Technologies Ltd.
NXP Semiconductor Sasken Communication Technologies Ltd.
Advance Micronic Devices Limited MindTree Consulting Ltd.
Intel Corporation HCL Technologies Ltd.
Flextronics International Ltd. Ittiam Systems
1 www.ibef.org

15. Se m i c o n d u c to r S e c to r –overview
december 2008
trends in semiconductor designing
chip designing companies are looking forward to
not just india-designed chips but also india-focused
chips as these companies are also looking at india as
a key product market. this confidence is based on
the country’s sharp growth in mobiles and consumer
electronics sector.
1 www.ibef.org

16. Se m i c o n d u c to r S e c to r –overview
december 2008
trends in semiconductor designing
Emerging Trends in Semiconductor Designing
Venture Capital Technology Emergence Design Moving up the Value
Convergence Start-ups Chain
india is attracting a large various semiconductor many domestic and foreign many multinational
number of vcs to invest in consuming sectors, such start-ups are coming into the semiconductor companies
the domestic semiconductor as digital media, consumer picture and expanding their have also started either
design segment. the country electronics, auto and wireless, operations in the country. offshoring their developing
is now becoming a preferable are demanding devices with currently, it is not difficult to and designing work to india
destination for vc firms due multi-features having different establish a start-up unit, as or opening their own captive
to factors such as availability technologies on a single financing schemes for these centres in the country. these
of skilled labour, strong local platform. Further, the growth start-ups are available in the designing companies in india
market and flexible regulatory of mobile applications is country. this trend will firmly are now moving up the value
framework of the it ministry. driving the combination of embed india on the global map chain by moving from low
microprocessors and digital in the field of semiconductor end-to-end design activities to
signal processors in order designing. front-end design work.
to take advantage of both
technologies.
1 www.ibef.org

17. Se m i c o n d u c to r S e c to r –overview
december 2008
expansion plans of semiconductor design companies in india
MAGMA
magma design Automation has 200 employees spread
across three centres in india. its Bengaluru operations
has moved to a new 40,000 sq. ft facility, which will
enable magma to expand in the region and provide
prompt support to its growing customer base in india.
the company is also focused on expanding its product
portfolio and building its expertise in ic implementation.
Management Dynamics, Inc.
management dynamics, inc. expanded its operations
in Asia Pacific by sales and operational units in europe
and india to meet the demands of its growing Asian
customer base.
1 www.ibef.org

18. Se m i c o n d u c to r
december 2008
expansion plans of semiconductor design companies in india
Freescale Semiconductor
Freescale Semiconductor is expanding its indian
operations with the development of a 300,000-sq ft
campus in noida. the company plans to increase its
headcount in india to 1,500 engineers over the next
four years to support its global rd efforts.
CISCO
in 2005, cisco announced to invest uS$ 1.1 billion in
india over the next three years, i.e., uS$ 750 million on
rd activities, uS$ 150 million on providing leasing and
other financial solutions, uS$ 100 million on funding
of indian start up companies and uS$ 100 million on
customer support operations.
1 www.ibef.org

19. Se m i c o n d u c to r S e c to r –overview
december 2008
expansion plans of semiconductor design companies in india
CISCO
in 2005, cisco announced its plans to invest
uS$ 1.1 billion in india over the next three years, i.e.,
uS$ 750 million on rd activities, uS$ 150 million on
providing leasing and other financial solutions, uS$ 100
million on funding of indian start up companies and
uS$ 100 million on customer support operations.
Alliance Semiconductor Corp
Alliance Semiconductor corp., a leading world-wide
provider of analog and mixed signal products, systems
solutions, and high performance memory products,
announced to invest approximately uS$ 50 million in its
india design centre over the next five years.
Conexant Systems, Inc.
conexant Systems, inc., a leader in fabless
semiconductor solutions for broadband communications
and digital home, is investing approximately uS$ 250
million in india over the next few years.
1 www.ibef.org

20. Se m i c o n d u c to r S e c to r –overview
december 2008
expansion plans of semiconductor design companies in india
Fairchild Semiconductor
Fairchild Semiconductor has opened a new rd centre
in Pune to design and develop the company’s new
generation of power moSFets and iGBt technology
for supporting applications such as solar inverters,
uninterruptible power supplies (uPS), automotive,
lighting and ballast applications.
Alereon, Inc.
Alereon, inc. announced the opening of Alereon
Semiconductors Pvt., the company’s new product
oriented rd facility in Pune, india. the rd centre
will focus on developing the company’s patented uwB
chipsets for the next generation products.
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21. Se m i c o n d u c to r S e c to r –overview
december 2008
Semiconductor manufacturing in india
the increasing spending on electronics products
offers a large opportunity to global semiconductor
companies to set up their manufacturing plants in the
country. recently, setting up of some new fabs has
been proposed and the already approved fab units are
expected to be operational by 2009 and 2010.
the indian government has also proposed to develop a
‘Fab city’ in Hyderabad, which is expected to house 10
manufacturing plants and to create 5,000 jobs by 2009
and up to 1.4 million jobs by 2016 in over 200 ancillary
industries
1 www.ibef.org

22. Se m i c o n d u c to r S e c to r –overview
december 2008
Semiconductor manufacturing in india
• it is estimated that approximately seven to eight
Solar Photovoltaic (SPv) units will be set up in india,
at an investment of uS$ 5–6 billion. the number of
solar chip fab units in india is expected to surpass
the number of semiconductor chip fab units in the
country in the next few years.
• currently, there are no operational wafer fabs in
the country and semiconductor manufacturing is
limited to only three government companies (Bharat
electronics Limited, Society for integrated circuit
technology and Applied research, and
Semi-conductor Laboratory).
www.ibef.org

23. Se m i c o n d u c to r S e c to r –overview
december 2008
Factors fuelling growth in semiconductor manufacturing
the indian Government is currently offering various
incentives to the global semiconductor companies to set
up their chip manufacturing plants in the country.
Factors Fuelling Growth
• chip manufacturing is getting a fillip in india as various
electronics manufacturing services (emS) providers
and mobile phone equipment manufacturers, such as
Samsung, motorola and nokia, are setting up their
plants in india. For example, according to a Gartner
report, by 2011, 10–20 per cent of mobile phone
production in india could be for exports. there is
potential for chip manufacturing companies to partner
with these emS players and leverage this opportunity.
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24. Se m i c o n d u c to r S e c to r –overview
december 2008
Factors fuelling growth in semiconductor manufacturing
• the indian Government has announced various
tax incentives to companies that are starting chip
manufacturing operations in the country. the
incentives are expected to provide an impetus
to companies plannning to set up their chip
manufacturing plants in india.
• the newly operational international airport in
Hyderabad is expected to boost chip manufacturing
in india. ‘Fab city’ is located just outside Hyderabad
and Hyderabad is well connected to all major cities in
india as well as all major cities in the middle east and
South east Asia.
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25. Se m i c o n d u c to r S e c to r –overview
december 2008
Assembly testing mark Pack (AtmP)
AtmP is the post-fabrication stage, where the chip
reaches the testing lab and undergoes various tests.
At this stage, faulty chips are identified and the rest
are taped out for shipment. this post-fabrication stage
completes the overall value chain of the semiconductor
sector and complements the indian semiconductor
ecosystem.
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26. Se m i c o n d u c to r S e c to r –overview
december 2008
Assembly testing mark Pack (AtmP)
ATMP in India
Market
• the number of AtmP units in india is very small
but various firms including both domestic and
foreign testing and packaging companies are foraying
into ic testing. For india to emerge as a complete
semiconductor solution provider, it has to develop
as an AtmP hub.
• the global AtmP market is valued at approximately
uS$ 20 billion (as of 2007) and if india can tap even
five per cent of this market by 2015, it will translate
into big business for the country.
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27. Se m i c o n d u c to r S e c to r –overview
december 2008
Assembly testing mark Pack (AtmP)
Exemptions
AtmP units are entitled to tax exemptions under
Software technology Parks of india (StPi) norms. Some
of these exemptions are:
• custom duty exemption
• excise duty exemption
• central sales tax reimbursement
• corporate tax exemption on 90 per cent
export turnover
• Sales in domestic tariff Area (dtA) upto
50 per cent of the ‘free on board’ (FoB)
value of exports permissible
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28. Se m i c o n d u c to r S e c to r –overview
december 2008
Growth prospects for AtmP
cost competitive manpower is typically the deciding
factor for AtmP units, a resource that india has in plenty.
the second factor that makes india a good location
for AtmP units is the presence of a growing domestic
electronics market.
www.ibef.org

29. Se m i c o n d u c to r S e c to r –overview
december 2008
Growth prospects for AtmP
Growing Domestic Electronics India – A Cost Competitive
Market Country
the presence of a growing domestic electronics AtmP units are located predominantly in cost
market consisting of mP3 players, personal competitive countries. india with its abundant
computers (Pc), digital cameras and mobile skilled, low-cost, and competitive workforce
handsets offers a great opportunity for mix-signal offers tremendous opportunities for AtmP units.
testing, flash testing and packaging memory devices.
Growth Prospects for
AtmP units in india
Upcoming Fabs and Manufacturing Facilities
the upcoming semiconductor fabs in india may require in-house
operations to carry out assembling and testing of their ics to have full
control over the manufactured ics. At the same time, plans of some of the
consumer electronic majors, such as Samsung, nokia, LG and dell, to set
up their manufacturing plant in india, are favourable for assembling, testing
and packaging of chips and final products.
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30. Se m i c o n d u c to r S e c to r –overview
december 2008
investment Plans in AtmP
InTEl
intel plans to invest uS$ 400 million to establish a
testing and assembly facility in india near Bengaluru
or chennai.
SemIndia
Semindia is setting up a uS$ 100 million AtmP unit at
maheshwaram, near Hyderabad, and plans to roll out its
first chip by march 2008.
Tessolve
tessolve along with its investors has announced plans
to undertake an investment of uS$ 200 million for a
testing Assembling Packaging and Prototyping (tAPP)
facility in chennai.
SPEl
SPeL, india’s only commercial semiconductor chip
assembly and testing company, plans to invest uS$286
million in a special economic zone near its existing
facility in chennai.
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31. Se m i c o n d u c to r S e c to r –overview
december 2008
current trends in AtmP
Venture Capital Targeting ATMP Segment
Some vc firms are targeting the indian
semiconductorAtmP segment. For example, Sandalwood
capital Partners, an india-focused venture fund, is keen
to invest in the AtmP segment. Sandalwood invested
uS$ 30 million in the Semindia’s Phase 1 proposed
test and assembly facility in Hyderabad. currently,
Sandalwood is increasing its corpus in india from
uS$120 million to uS$500 million. it aims to increase
its investment to uS$ 1 billion in the next three years in
technology-related business.
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32. Se m i c o n d u c to r
december 2008
current trends in AtmP
Outsourcing of Assembly and Testing Services
outsourcing of assembly and testing services is
expected to give a fillip to the revenue of AtmP units
in india. Foreign companies are expected to outsource
their work to these AtmP units in india and at the
same time, captive design centres of semiconductor
companies such as intel, ti and Amd are also expected
to outsource their work to these AtmP units. this trend
is further supported by the fact that the market for
outsourced assembly and testing services has grown
from 30 to 40 per cent in the past five years.
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33. Semiconductor
An uPcominG Sector
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34. Se m i c o n d u c to r – A n u Pcomin G Sector
december 2008
Semiconductor Sector: Advantage india
Strong Growth in Related Verticals Market for Semiconductor Across Different Industry Verticals (US$ million)
YEAR Automobile Electronics IT Hardware Telecommunication Commercial
the indian semiconductor sector is likely to witness Sector and Durables and Office Sector Electronics
Sector Automation Sector
a strong growth rate due to expected growth in Sector
2004 76.3 202.9 660.0 828.6 121.6
some related sectors, such as automotive, consumer 2005 100 297.9 780 1281.5 153.4
electronics and durables, it hardware and office 2006 121.9 378.4 1000 1884.3 186.9
2007 145.9 471.4 1280 3010 245.4
automation, telecommunications, etc. 2010E 240.2 791.1 2610 7980.8 484.7
2015E 459.5 1529.5 6960 24297.2 1647.6
Engineering Workforce Employed by Different Design Sector Verticals in India
Strong Academia YEAR TOTAL DESIGN EMBEDDED VLSI DESIGN HARDWARE/BOARD
MARKET SOFTWARE MARKET DESIGN MARKET
DEVELOPMENT
Semiconductor being a knowledge intensive sector MARKET
requires a large pool of engineering workforce. 2005 74,850 60,220 11,300 3,330
2006E 102,120 83,500 14,200 4,420
Here, india has an edge over other countries owing 2007E 140,235 116,305 18,060 5,870
to its large talent pool. 2008E 178,675 148,790 22,300 7,584
2009E 227,265 190,030 27,455 9,780
2010E 286,220 241,000 33,135 12,085
2011E 360,440 305,665 39,850 14,925
2012E 454,010 387,665 47,910 18,436
2013E 545,665 465,196 57,700 22,770
2014E 653,365 558,236 67,000 28,130
2015E 781,780 669,885 77,150 34,745
Source: ISA 2007 report
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35. Se m i c o n d u c to r – A n u Pcomin G Sector
december 2008
Semiconductor Sector: Advantage india
Cost Savings
india offers a large pool of technically and scientifically
skilled english-speaking workforce. At the same time,
the country also offers plenty of semiconductor design
talent at competitive cost. For example, an employee
in the engineering services cost uS$ 25 per hour in
india, which is approximately one-third for a similar
employee of comparable skill and experience in the
uS. Approximately 20 per cent of the Fortune 500
companies have their research and development
operations in india and recruit managerial and
engineering staff locally for their indian operations.
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36. Se m i c o n d u c to r – A n u Pcomin G Sector
december 2008
Semiconductor Sector: Advantage india
Government and Industrial Support
initiatives taken by the government and the industry are
providing new business opportunities to the existing
companies to move up the value chain. the Government
of india has been taking various initiatives to support
business activities of the semiconductor sector in india.
to attract electronics companies to invest in india,
it is working towards establishing a favourable Fdi
environment, reducing taxation rates and is giving fiscal
and financial benefits to the sector.
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37. reGuLAtory FrAmework in tHe
Semiconductor Sector
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38. reG uL Ato ry F r A m e wo r k in Semiconductor Sector
december 2008
regulatory Policy and incentives offered in the Semiconductor Sector
to become self-reliant in chip manufacturing and attract
semiconductor companies to set up their manufacturing
plants in the country, the indian Government announced
‘national Semiconductor Policy’ (nSP) or ‘Fab Policy’ in
2007. under this policy, the government has proposed
a special incentive plan to encourage companies to
come to india for semiconductor and related ancillary
manufacturing
Regulation of nSP
the threshold investment for a semiconductor
manufacturing (wafer fabs) plant would be uS$ 575
million (approx.) and uS$ 220 million (approx.) for
other ancillary units (storage devices, organic Led, micro
or nano-technology products).
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39. reG uL Ato ry F r A m e wo r k in Semiconductor Sector
december 2008
regulatory Policy and incentives offered
in the Semiconductor Sector
incentives offered by the government
Incentives under the national Semiconductor Policy
the policy covers State 20 per cent Assuming a 1:1 in case of units in case of units
Lcds, storage Governments can of the capital debt to equity located outside located outside
devices, plasmas, provide additional expenditure of a ratio for the the SeZ, the an SeZ, the
photo-voltaics, incentives to semiconductor project, the countervailing government will
duties (cvd) on
solar cells and semiconductor manufacturing government bear 25 per cent
nanotechnology companies. unit located in a restricts its capital goods will of the capital
products, and Special economic participation to be exempted. expenditure for
also includes Zone (SeZ) will 26 per cent of the stated time
assembly and be borne by the the equity capital. duration.
testing of these government for
products. the first 10 years.
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40. Se m i c o n d u c to r
december 2008
diScLAimer
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