Modi Doubles India Chip Mission to $13.5B at SEMICON, Applied Materials Pledges $5B

Prime Minister Modi opened SEMICON India 2026 on Sept 17 by unveiling Phase 2 of the India Semiconductor Mission with a $13.5B outlay over 12 years, up from $8B in Phase 1, and rules letting foreign firms partner with Indian startups and design houses. Applied Materials committed $5B over 10 years including a 140-acre research park, Lam Research pledged ~₹10,000 crore for its first Indian silicon component fab, and Tata Electronics signed 16 supplier MoUs. India currently imports ~90% of its semiconductor needs.