ISM 2.0: Can semiconductor stocks become India's next long-term wealth creators?

The Union Cabinet has approved ₹1.27 lakh crore for India Semiconductor Mission 2.0 (ISM 2.0), announced earlier in Union Budget 2026-27, with focus on semiconductor equipment, materials, and chip design. India's semiconductor market, valued at $45-50 billion in 2024-25, is projected to reach $100-110 billion by 2030. Experts view the opportunity as real but long-term, suggesting investors look at the broader ecosystem like EMS, data centres, and chip design for earlier commercial benefits, rather than expecting overnight gains similar to the defence sector rally.