Expert outlines key requirements to strengthen India’s semiconductor industry and attract investments

Finance Minister Nirmala Sitharaman tabled the Economic Survey 2026 in Parliament today, on 29 January (Thursday), ahead of the scheduled Union Budget 2026 announcement on 1 February (Sunday). Notably, this will be her ninth consecutive Budget speech and is the first time that the India Union Budget will be presented on a Sunday in at least a decade. Rajul Bohra, Partner, JSA Advocates & Solicitors, said that the semiconductor industry is expecting the upcoming Budget to come out with incentives that focus on chip production, rather than just assembly, as well as strong domestic supply chain. “There should also be incentive schemes for local components, chip design and manufacturing for sustainable growth. It is also pertinent that the incentives which have been committed are released faster as large fab and OSAT projects are under financial pressure,” she said. She further mentioned that parallel reforms under related laws are also required to boost the momentum and for the nation to achieve its aim of becoming top chip manufacturing hub by 2032 and attract major financial investment in this sector. Read more