As per sources, India’s semiconductor sector is poised for significant growth, projected to expand from $52 billion in 2024 to $103.4 billion by 2030, at a CAGR of 13%. This growth is driven by key industries such as mobile handsets and automotive, with the government investing over ₹76,000 crore to enhance domestic manufacturing capabilities.
The Ministry of Electronics and Information Technology (MeitY) received a 48% budget boost, totaling over ₹26,000 crore, with significant funding directed toward the IndiaAI Mission and expanded PLI schemes for semiconductors, electronics, and IT hardware production.
The estimate for the modified scheme to set up semiconductor facilities in India increased from ₹2,500 crore in FY25 to ₹3,900 crore in FY26. This includes investments in semiconductor fabs, silicon photonics, sensors, and assembly facilities.
MeitY allocated ₹2,000 crore for the IndiaAI Mission in FY25, marking an 11-fold increase from ₹173 crore in the revised FY25 estimate. This reflects a growing focus on AI initiatives.
Additionally, the government has significantly increased the allocation for the modernization of the Semiconductor Laboratory in Mohali, under MeitY, from ₹11 crore in the revised estimate for FY25 to ₹400 crore in the budget estimate for FY26, boosting research and development in microelectronics.
Here are the semiconductor stocks in focus after the government announced Rs 26,000 crore PLI scheme;
| Company Name | CMP |
| MIC Electronics Ltd. | 75.79 |
| Kaynes Technology Ltd | 4,345.00 |
| RRP Semiconductor Ltd | 303.45 |
| Tata Elxsi | 6,358.00 |
| Syrma SGS Technology Ltd | 560.00 |
| RIR Power Electronics | 2,465.70 |
| Dixon Technologies | 14,868.30 |
| MosChip Technologies | 198.30 |
| CG Power and Industrial Solutions | 593.25 |
| ASM Technologies Ltd | 1,175.15 |
| Hind Rectifiers | 1,111.55 |
Written by Abhishek Singh
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