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U.S. chip equipment maker Lam Research Corp commits $1.2 billion in India, boosting semiconductor ecosystem. Indian market expected to reach $63B by 2026.

U.S.-based chip toolmaker company Lam Research said it will invest over 100 billion rupees ($1.2 billion) in the next few years in India's southern Karnataka state, the latest boost to the nation's plans to bolster its semiconductor ecosystem.

The India Semiconductor Mission (ISM) has approved five semiconductor units that will all receive central and state government subsidies under the programme for the development of semiconductors and display manufacturing ecosystem in India with a total outlay of Rs 76,

India is aspiring to become a significant global contributor in semiconductor supply chains. As part of this, the government has spearheaded the Indian Semiconductor Mission (ISM) and has approved five projects under the India Semiconductor Mission,

The investment is in tandem with India's efforts to build a semiconductor ecosystem with the India Semiconductor Mission initiative.

The India Semiconductor Mission (ISM) has approved five semiconductor units that will all receive central and state government subsidies under the programme for the development of semiconductors and display manufacturing ecosystem in India with a total outlay of Rs 76,

US-based Lam Research signed an MoU with Karnataka's state government to invest INR10,000 crore (US$1.14 billion) in India's growing semiconductor manufacturing sector, as the country targets a market value of US$103 billion by 2030.