
SparX by Mukesh Bansal PM’s Economic Adviser on India’s Semiconductor Future | Neelkanth Mishra | SparX
Jan 31, 2026
Neelkanth Mishra, a senior semiconductor expert who helped shape the India Semiconductor Mission, discusses India’s semiconductor roadmap and the realities of execution. He explains ecosystem roles, why entry barriers are so high, Micron’s fast‑tracked entry, geopolitical advantages, and the plan to seed multiple large plants to catalyze a domestic industry.
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Mission Backed By Political Will
- The India Semiconductor Mission (ISM) pairs large capital subsidies with top-level political backing to attract global firms.
- ISM focuses on building an ecosystem rather than short-term financial returns.
Fab Costs Scale With Node Ambition
- Wafer fabs' costs vary dramatically by node, from ~$5–7B for mature nodes to ~$20B for cutting-edge nodes.
- India targets 40nm initially and aims for 28nm by 2030 to balance ambition and feasibility.
Prioritize Ecosystem Over Short-Term Returns
- Think beyond pure financial returns when building national capacity in semiconductors.
- Prioritize getting companies through the door to create the ecosystem foundation.
