Since January 2025, Tata Electronics, Murugappa Group's CG Power, and HCL Group have announced semiconductor projects worth ₹1.29 trillion under the India Semiconductor Mission. These firms have collectively invested ₹3,345 crore in semiconductor manufacturing and assembly plants, marking a significant step in India's semiconductor investment drive, according to livemint.com.
The investments are part of the government's broader initiative, which has earmarked more than ₹2 trillion in total outlay under two semiconductor incentive schemes. The India Semiconductor Mission aims to boost domestic chip manufacturing capacity by supporting private sector projects. Tata Electronics, Murugappa Group, and HCL Group have actively committed funds to develop manufacturing and assembly facilities as part of this mission, livemint.com reported.
This surge in semiconductor investments aligns with India's strategic goal to reduce dependence on imports and build a robust local supply chain. The ₹1.29 trillion committed by these companies complements the government's ₹2 trillion incentive budget, positioning India to become a competitive player in the global semiconductor market. The involvement of major industrial groups like Tata and Murugappa underscores the sector's growing importance in India's industrial policy, per livemint.com.
The India Semiconductor Mission's incentive schemes remain open for further participation, with the government continuing to attract investments to meet its target of establishing a comprehensive semiconductor ecosystem. The ₹1.29 trillion investment announced by these firms since early 2025 represents a foundational milestone in this ongoing effort, as detailed by livemint.com.