India launches $13 billion semiconductor production boost program

Semiconductors (traded)

Semiconductors (traded)

2026/07/15 20:30

India today launched a new semiconductor program 'Sumicon 2.0' that includes financial aid exceeding $13 billion to accelerate local production, as it seeks to become a global power in electronics.

This comes amid a race among countries to secure semiconductor supply chains, following disruptions during the COVID-19 pandemic and rising geopolitical tensions that exposed vulnerabilities in the global production system.

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Semiconductor production

The program focuses on strengthening the local semiconductor ecosystem, encouraging domestic production of basic materials, and attracting global companies to set up factories in India. It is noted that India's chip market grew from about $38 billion in 2023 to an estimated $45-50 billion in 2024 and 2025, while the government aims to reach a market size of $100-110 billion by 2030.

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