Small chips, big Indian bets

Few things in technology are harder to make than semiconductors. India Inc is having a go anyway. With the government backing them, companies have already committed some $20 billion — small change by global standards, but a beginning. From fabs and foundries to chips and wafers, the bets span the entire gamut.

Tata Electronics may look like the standout player making the big bets, but smaller houses are in the fray too. The Murugappa Group is banking on clean energy and semiconductors to meaningfully lift revenues, while the likes of HCL Technologies and Kaynes have decided the risk is worth the reward.