Modern electronic devices depend on integrated circuit (IC) chips for their operation due to increased processing speed, reduction in device sizes, and better dependability in various industries, including medical appliances, automobile sectors, satellite communications, and many more. The current market is experiencing a genuine scarcity of ICs due to the exceptionally high demand for these small chips and their diverse applications. This study identifies and ranks the barriers that hamper the manufacturing of IC chips in the Indian semiconductor manufacturing industry using a one-sample t-test methodology based on their mean difference values. Twelve chip manufacturing-related barriers are examined in this study, and the presence of these barriers is verified by experts from an Indian semiconductor manufacturing organization. Based on a one-sample t-test analysis of 395 respondents who work in the semiconductor industry, all the twelve barriers were found to be significant and ranked according to their mean difference values. The study concludes that “Lack of Semiconductor Fabrication Facilities (B1)”, “Dependence on Imported Raw Materials and Components (B2)”, and “Limited Access to Cutting-Edge Technology and Equipment (B6)”, are the critical barriers that hamper the manufacturing of IC chips as per the one-sample t-test results. The findings can help various stakeholders, including domestic and multinational semiconductor corporations, and extend beyond policymakers and businesses in framing effective strategies to overcome these barriers.