In the wake of dwindling Moore’s Law, to address the rapidly increasing complexity and cost of fabricating large-scale, monolithic systems-on-chip (SoCs), the industry has adopted dis-aggregation as a solution, wherein a large monolithic SoC is partitioned into multiple smaller chiplets that are then assembled into a large system-in-package (SiP) using advanced packaging substrates such as silicon interposer. For such interposer-based SiPs, there is a push to realize on-interposer inter-chiplet communication bandwidth of multi-Tb/s and end-to-end communication latency of no more than 10 ns. This push comes as the natural progression from some recent prior works on SiP design, and is driven by the proliferating bandwidth demand of modern data-intensive workloads. To meet this bandwidth and latency goal, prior works have focused on a potential solution of using the silicon photonic interposer (SiPhI) for integrating and interconnecting a large number of chiplets into an SiP. Despite the early promise, the existing designs of on-SiPhI interconnects still have to evolve by leaps and bounds to meet the goal of multi-Tb/s bandwidth. However, the possible design pathways, upon which such an evolution can be achieved, have not been explored in any prior works yet. In this paper, we have identified several design pathways that can help evolve on-SiPhI interconnects to achieve multi-Tb/s aggregate bandwidth. We perform an extensive link-level and system-level analysis in which we explore these design pathways in isolation and in different combinations of each other. From our link-level analysis, we have observed that the design pathways that simultaneously enhance the spectral range and optical power budget available for wavelength multiplexing can render aggregate bandwidth of up to 4 Tb/s per on-SiPhI link. We also show that such high-bandwidth on-SiPhI links can substantially improve the performance and energy-efficiency of the state-of-the-art CPU and GPU chiplets based SiPs.