India’s semiconductor industry is at the most pivotal moment in its history. According to IESA, India’s semiconductor market is expected to grow from approximately USD 52 billion in 2024-25 to USD 103.4 billion by 2030 at a CAGR of 13 percent. As of 2026, 10 semiconductor projects worth approximately Rs 1.60 lakh crore have been approved across six states, with Tata Electronics’ Rs 91,526 crore fab in Gujarat — with a capacity of 50,000 wafer starts per month — being the largest single semiconductor investment in Indian history. The India Semiconductor Mission 2.0 announced in Budget 2026-27 covers semiconductor equipment, materials, design, and full-stack IP development to reduce import reliance. India’s semiconductor ecosystem spans chip design, ATMP packaging, manufacturing, and embedded systems. Let us have a look at the top 10 semiconductor companies in India for the year 2026.
1. Tata Electronics (Semiconductor Fab)
Tata Electronics, a subsidiary of the Tata Group, made history in 2024 when it received government approval for India’s first major commercial semiconductor fabrication plant — a Rs 91,526 crore fab in Dholera, Gujarat with a capacity of 50,000 wafer starts per month in partnership with Taiwan’s Powerchip Semiconductor Manufacturing Corporation. The facility represents the single largest semiconductor investment in Indian history and is set to manufacture chips for automotive, power electronics, consumer electronics, telecom, and defence applications when it achieves full production. This project is the cornerstone of India’s ambition to become a global semiconductor manufacturing hub.
Tata Electronics’ semiconductor fab will serve automotive chip buyers, electronics manufacturers, telecom equipment producers, and government defence procurement agencies with domestically manufactured semiconductor chips, fundamentally changing India’s position in the global semiconductor supply chain when it achieves production scale.
2. Dixon Technologies Limited
Dixon Technologies, founded in the year 1993 and headquartered in Noida, is India’s leading electronics manufacturing services company and a rapidly growing player in the semiconductor ecosystem as a key consumer of chips for its manufactured products including mobile phones, LEDs, set-top boxes, washing machines, and security systems. The company’s robust growth is fuelled by India’s Make in India initiative and rising demand for consumer electronics manufactured domestically. Dixon serves as the manufacturing backbone for many global and Indian brands including Motorola, Xiaomi, Samsung, and others.
Dixon Technologies serves global consumer electronics brands, Indian appliance companies, and government electronics supply programs with contract manufacturing services and is one of the largest commercial drivers of semiconductor demand in India’s domestically manufactured electronics supply chain.
3. Tata Elxsi Limited
Tata Elxsi, founded in the year 1989 as a subsidiary of Tata Group and headquartered in Bengaluru, is a prominent semiconductor design, embedded systems, and product engineering services company operating at the intersection of automotive, healthcare, media, and communications technology. The company offers innovative chip design solutions in electric vehicle systems, 5G infrastructure, autonomous driving, and broadcast technology and is consistently rated as one of the best semiconductor design services companies in India. Tata Elxsi’s automotive semiconductor design business has grown significantly with the EV revolution.
Tata Elxsi serves global automotive OEMs, medical device companies, media technology firms, and telecom equipment manufacturers with VLSI chip design, embedded systems development, and product engineering services, and is the most recognised Indian company in the premium semiconductor design services space.
4. HCL Technologies Limited
HCL Technologies, founded in the year 1976 by Shiv Nadar and headquartered in Noida, supports global semiconductor firms through its engineering services division with chip design, embedded systems, VLSI services, and semiconductor IP development. The company operates in 60 countries with a workforce of more than 226,000 professionals and is one of India’s foremost global IT and engineering services companies. HCL’s semiconductor practice serves major global chip companies outsourcing design and verification work to India’s deep talent pool.
HCL Technologies serves global semiconductor firms, electronic systems companies, and chip design centres with engineering services including VLSI design, chip verification, embedded firmware, and semiconductor IP development, leveraging India’s world-class chip design engineering talent at competitive cost points.
5. SPEL Semiconductor Limited
SPEL Semiconductor, headquartered in Chennai and one of India’s only operational semiconductor ATMP — Assembly, Test, Mark, and Pack — companies, provides IC packaging and testing services for domestic and international semiconductor clients. The company’s growth is driven by partnerships with domestic entities, global technology companies, and government incentives under the India Semiconductor Mission. SPEL is among the most promising indigenous semiconductor packaging companies in India and is positioned to benefit significantly from the government’s push to build a complete semiconductor value chain in the country.
SPEL Semiconductor serves Indian electronics manufacturers, global semiconductor companies seeking ATMP services in India, and government defence electronics programs with its semiconductor packaging and testing capabilities, making it one of India’s most strategically important semiconductor infrastructure companies.
6. Kaynes Technology India Limited
Kaynes Technology India, an integrated electronics manufacturing company headquartered in Mysore and listed on Indian stock exchanges, is one of India’s most rapidly growing electronics system design and manufacturing companies with a growing semiconductor packaging ambition. The company provides IoT solutions, process controls, automotive electronics, consumer goods electronics, and industrial electronics manufacturing services and is investing in ATMP capabilities to add semiconductor packaging to its service portfolio.
Kaynes Technology serves automotive OEMs, industrial automation companies, IoT device makers, and consumer electronics brands with electronics system design and manufacturing services, and is one of the most ambitious domestic players building toward a more complete semiconductor ecosystem participation through its ATMP investment plans.
7. RIR Power Electronics Limited
RIR Power Electronics, established in the year 1969, is one of India’s most established power semiconductor device manufacturers, specialising in manufacturing power semiconductor modules, rectifiers, thyristors, and associated components for industrial, energy, and infrastructure sector applications. The company is emerging as one of the most promising pure semiconductor manufacturing companies in India given its decades-long manufacturing experience and its positioning in the energy-efficient equipment and industrial automation segments that are growing rapidly.
RIR Power Electronics serves industrial machinery manufacturers, energy infrastructure developers, renewable energy system builders, and defence electronics programs with its power semiconductor devices and modules, occupying a niche but strategically important position in India’s domestic semiconductor manufacturing ecosystem.
8. Vedanta Semiconductors
Vedanta Semiconductors, a semiconductor venture of the Vedanta Group, was a high-profile participant in India’s first semiconductor manufacturing push and has been engaged in identifying manufacturing partners and technology collaborations for building chip fabrication capacity in India. While Vedanta’s original joint venture with Foxconn for a semiconductor fab was restructured, Vedanta’s commitment to India’s semiconductor ecosystem remains and the company continues to explore manufacturing participation opportunities under India Semiconductor Mission incentives.
Vedanta Semiconductors is engaged in India’s long-term semiconductor manufacturing ecosystem development and represents the ambition of India’s industrial conglomerates to participate in the strategic semiconductor manufacturing sector that the government has identified as critical to national technology sovereignty and economic security.
9. MosChip Technologies
MosChip Technologies, headquartered in Hyderabad, is one of India’s most experienced semiconductor design services and embedded solutions companies with over 1,300 engineers across India and Silicon Valley, focusing on automotive, consumer electronics, and telecommunications semiconductor design markets. The company provides chip design services, embedded solutions, and IoT-linked chip design work for global semiconductor firms that outsource part of their design and development activities to India’s world-class engineering talent base.
MosChip serves global semiconductor companies and system-on-chip developers with VLSI design services, embedded firmware development, and IoT chip design capabilities, and is a reflection of the depth and breadth of India’s chip design talent base that has made India a global leader in fabless semiconductor design services.
10. Signify India (Semiconductor Lighting)
Signify India, formerly known as Philips Lighting and a subsidiary of Dutch multinational Signify, operates a significant semiconductor-based LED manufacturing and systems business in India as the country’s leading connected lighting company. The company manufactures LED modules, drivers, and intelligent lighting systems that embed semiconductor components for commercial, industrial, and smart city applications. Signify’s India manufacturing operations produce semiconductor-based lighting products for both domestic consumption and export.
Signify India serves commercial real estate developers, industrial facilities, government infrastructure programs, and smart city projects with its semiconductor-based LED and intelligent lighting solutions, representing an important application of semiconductor technology in India’s rapidly growing energy-efficient infrastructure sector.
Frequently Asked Questions (FAQs)
Q: What is the size of India’s semiconductor market in 2026?
A: According to IESA, India’s semiconductor market is expected to grow from approximately USD 52 billion in 2024-25 to USD 103.4 billion by 2030 at a CAGR of 13 percent. As of 2026, the government has approved 10 semiconductor projects worth approximately Rs 1.60 lakh crore across six states, with Tata Electronics’ Rs 91,526 crore fab in Gujarat being the largest.
Q: What is the India Semiconductor Mission?
A: The India Semiconductor Mission is the government’s flagship program to establish India as a global semiconductor hub. ISM 2.0 announced in Budget 2026-27 covers semiconductor equipment, materials, design, and full-stack IP development. The mission provides financial incentives of up to 50 percent of project cost for semiconductor fabs and ATMP facilities, and has already approved projects worth Rs 1.60 lakh crore.
Q: Does India manufacture semiconductor chips domestically?
A: India is in the early stages of building domestic chip manufacturing. SPEL Semiconductor provides ATMP packaging services. Tata Electronics’ fab in Gujarat is under construction and expected to begin production by 2026-27. India’s primary strength is in chip design where Indian engineers working for global fabless companies design a significant proportion of the world’s semiconductor IP. India has over 3,000 chip design engineers and is the second largest source of semiconductor design talent globally after the USA.
Q: Why is India investing in semiconductor manufacturing?
A: The COVID-19 pandemic exposed India’s critical dependence on imported semiconductors when chip shortages severely impacted its automotive and electronics manufacturing industries. Semiconductors are now identified as a national security and strategic economic priority. India wants to reduce dependence on Chinese and Taiwanese chip supply chains, create high-value manufacturing jobs, and position itself as a global electronics production hub for which domestic chip supply is essential.
Q: What is the difference between fabless and fab semiconductor companies?
A: A fabless semiconductor company designs chips but outsources their actual physical manufacturing to dedicated foundries or fabs. Examples include Qualcomm, NVIDIA, and AMD. A fab or foundry is a company that manufactures chips designed by fabless companies using its own wafer fabrication facilities. Examples include TSMC and Samsung Foundry. India’s semiconductor strength today is primarily in fabless design services, and Tata Electronics’ Dholera fab will be India’s first major foundry operation.
