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Equity Research · Industry Mapping · AI

India Semiconductor
Intelligence

Map the global semiconductor value chain, identify Indian beneficiaries, compare valuations, analyze technicals, and generate company-level investment decisions — in one workspace.

India semicon market
$45B
+18% CAGR
$110B by 2030 (estimate)
Import dependence
~95%
Strategic risk
of chips consumed in India today
ISM 1.0 outlay
₹76,000 cr
Up to 50% capex support
6 projects approved
Listed Indian universe
48
Tracked
15 direct · 30 ancillary
Semiconductor Value Chain

Raw materials to finished electronics

Raw Materials
Silicon, SiC, copper, ceramics, gases
Chemicals & Gases
Photoresists, etchants, UPW gases
Wafers
Silicon and compound wafer fabrication
Equipment
Lithography, etch, dep, metrology
Design / IP
EDA, IP cores, fabless design
Fab
Logic, memory, analog, RF wafer fabrication
OSAT
Assembly, packaging, test
PCB / PCBA
Boards and component assembly
EMS
Box build, full product manufacturing
End Markets
Mobile, auto, industrial, defence

Cheapest segment

Median valuation vs own history

Specialty Chemicals & Gases

Specialty chemicals trade at a discount to 5-year medians while semicon-grade qualification cycles position them as a multi-year tailwind.

Linde IndiaNavin FluorineStallion Fluor.

Policy in motion

Active and upcoming Indian schemes

All policies →
  • India Semiconductor Mission (ISM 1.0)
    ₹76.0k cr · MeitY
    Active
  • ISM 2.0
    Outlay TBD · MeitY
    Announced
  • Electronics Components Manufacturing Scheme (ECMS)
    ₹40.0k cr · MeitY
    Active
  • Design Linked Incentive (DLI) Scheme
    ₹1.0k cr · MeitY
    Active
  • Chips to Startup (C2S) Programme
    ₹230 cr · MeitY
    Active

Supply-chain segments

Click any segment to see Indian companies, capability map and beneficiaries.

India view
Segment

Raw Materials

Silicon, silicon carbide, copper, aluminium, ceramic substrates and specialty minerals that feed into wafer fabrication and packaging.

India: EmergingBarrier: High$70B global
Import dependence
95%
Strategic importance
High
Segment

Chemicals & Gases

Ultra-high purity gases, photoresists, etchants, solvents, fluorochemicals and cleaning chemicals used at every stage of fab and OSAT operations.

India: DevelopingBarrier: High$50B global
Import dependence
85%
Strategic importance
High
Segment

UPW

Ultra-pure water systems for fabs, OSAT, displays and precision electronics. Includes reverse osmosis, ion exchange, recycling and effluent treatment.

India: CompetitiveBarrier: Medium$12B global
Import dependence
35%
Strategic importance
Medium
Segment

Cleanrooms

Contamination-controlled manufacturing environments with tightly regulated temperature, humidity, particle count, pressure and vibration.

India: DevelopingBarrier: Medium$8B global
Import dependence
50%
Strategic importance
Medium
Segment

Design / IP

RTL design, verification, SoC architecture, ASIC design, RF and analog design, embedded systems and IP licensing.

India: CompetitiveBarrier: High$220B global
Import dependence
70%
Strategic importance
Critical
Segment

Equipment Components

Precision components, motion stages, vacuum parts, dicing, grinding, slicing tools, automation and inspection sub-systems for fab and OSAT equipment.

India: EmergingBarrier: Extreme$110B global
Import dependence
99%
Strategic importance
High
Segment

Fab / Foundry

Wafer manufacturing where transistors are patterned onto silicon or compound semiconductor wafers. Capital-intensive and yield-sensitive.

India: EmergingBarrier: Extreme$180B global
Import dependence
100%
Strategic importance
Critical
Segment

OSAT / ATMP

Outsourced semiconductor assembly and test: dicing, packaging, wire bonding, flip chip, advanced packaging and final test of finished chips.

India: EmergingBarrier: High$45B global
Import dependence
99%
Strategic importance
Critical
Segment

PCB / PCBA

Printed circuit boards and assembled boards that integrate chips, passives and connectors into functional electronic systems.

India: DevelopingBarrier: Medium$90B global
Import dependence
70%
Strategic importance
High
Segment

EMS

Electronics manufacturing services: PCB assembly, full product assembly, testing, packaging and lifecycle support for OEM customers.

India: CompetitiveBarrier: Medium$600B global
Import dependence
35%
Strategic importance
Critical
Segment

Power Semis

Devices controlling high-voltage and high-current applications: EVs, renewables, industrial automation, railways, defence, data centers.

India: DevelopingBarrier: High$35B global
Import dependence
92%
Strategic importance
High
Segment

End Markets

Final products that consume chips: smartphones, EVs, telecom equipment, industrial electronics, defence electronics, consumer appliances.

India: CompetitiveBarrier: Medium$1500B global
Import dependence
30%
Strategic importance
Critical
Segment

Logistics

Specialized transport, storage and handling of high-purity chemicals, gases and sensitive semiconductor inputs and outputs.

India: DevelopingBarrier: Medium$25B global
Import dependence
25%
Strategic importance
Medium
Segment

Power & Infra

Substations, EPC, industrial power infrastructure, gas and water systems for fabs, semiconductor parks and large electronics campuses.

India: CompetitiveBarrier: Medium$80B global
Import dependence
20%
Strategic importance
High