India's hidden semiconductor advantage: What's next in the chip journey?

The Finance Ministry's Expenditure Finance Committee approved around Rs 1.20 lakh crore for the second phase of India's Semiconductor Mission. Equirus projects global chip market growth from about $775 billion to $1.6 trillion by 2030, with top hyperscalers lifting capex toward roughly $700 billion in 2026. India holds about 300,000 chip designers (one-fifth of the global pool) and is targeting OSAT and mature 28-110nm nodes, with domestic chip consumption expected to more than double to about $155 billion by CY31.