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Semiconductors have become the standout story of 2026. When people talk about "chips" today, they almost always mean this one.
India is now pulling in serious investment interest from semiconductor companies across Japan, the US, Europe, and Southeast Asia, with global players eyeing opportunities in chemicals, materials, industrial gases, and equipment.
This surge comes as the government gears up to streamline project approvals under the upcoming Semicon 2.0 programme, the next phase of the ₹76000 crore semiconductor mission first announced in 2021.
Phase 1 was all about landing fabrication, packaging, and design investments to build up domestic manufacturing capacity. Semicon 2.0 is set to go deeper, strengthening the supporting ecosystem that chip plants and packaging facilities actually depend on, including materials, equipment, advanced packaging, chip design, and research.
With semiconductors firmly in the spotlight, here are the chip-related stocks in India worth watching.
L&T is a dominant, vertically integrated Engineering, Procurement, and Construction (EPC) conglomerate that provides comprehensive design-to-delivery solutions across various core sectors of the economy.
Its highly diversified business portfolio spans major infrastructure projects, conventional and green energy projects, hi-tech manufacturing, IT and technology services, financial services, and real estate development.
The semiconductor business of L&T is currently housed under L&T Semiconductor Technologies (LTSCT), which is a wholly owned subsidiary of L&T.
While this business is still relatively small compared to L&T's overall engineering and infrastructure operations, it represents the company's strategic entry into the semiconductor value chain.
Speaking to ANI on the sidelines of the CII Conference on Advancing Atmanirbharta in Semiconductor Design and Manufacturing, Sandeep Kumar, chief executive of L&T Semiconductor Technologies,
This makes L&T a stock to watch in India's chip ecosystem.
Kaynes Technology has evolved from a focused electronics manufacturing player into an integrated technology company with end-to-end capabilities across design, manufacturing, testing, and semiconductor packaging.
The company is involved in semiconductor through its wholly owned subsidiary, Kaynes Semicon, which focuses on advanced semiconductor manufacturing.
The subsidiary runs facilities designed to meet global semiconductor standards, supported by state-of-the-art infrastructure, precision engineering systems, and scalable production capabilities.
PM Narendra Modi inaugurated Kaynes Semicon’s plant in Sanand on 31 March 2026. The project was approved by the Union cabinet of India on 23 September 2024, under the India Semiconductor Mission.
The facility is designed to handle approximately 6.3 m chips per day, marking a significant step in building domestic semiconductor manufacturing capabilities.
Further, according to media reports dated 6 April 2026, Kaynes Semicon is planning to expand its presence under the upcoming ISM 2.0 scheme by exploring opportunities in gallium nitride (GaN) and micro-LED technologies.
Raghu Panicker, chief executive of Kaynes Semicon, told The Economic Times recently that the company is in advanced discussions with global technology firms to expand into:
The company plans to enter these segments through joint ventures and technology partnerships rather than developing the technologies on its own.
Kaynes Semicon is also looking to submit project applications under the next phase of the India Semiconductor Mission (ISM) by mid-August 2026, subject to the government opening the application window.
This makes Kaynes Technology one of the key chip-related stocks to watch in India's growing semiconductor ecosystem.
MosChip Technologies is one of India’s earliest fabless semiconductor companies in India. The company has built strong expertise across a wide range of semiconductor technologies, from 180nm to advanced 2nm nodes, catering to digital, analog, and mixed-signal chip designs.
Moschip offers end-to-end semiconductor services covering chip design, verification, integration, validation, testing, and volume manufacturing support.
Moschip has completed more than 600 successful tape-outs and has established itself as a trusted partner for global semiconductor companies.
Its capabilities span the entire semiconductor development lifecycle, including RTL design, FPGA, IP integration, embedded software, hardware platforms, and production release.
It handle the full silicon lifecycle — RTL to GDSII, tape-out, and volume production – including coordination with TSMC, Samsung, Intel, and OSATs.
This makes MosChip Technologies another chip-related stock to watch in India.
Tata Elxsi is among the world’s leading providers of design and technology services, catering to industries such as automotive, broadcast, communications, healthcare, and transportation.
Tata Elxsi is a global design and technology services company with a growing presence in the semiconductor space. It provides chip design, engineering, verification, and software integration services to semiconductor and electronics companies.
The company leverages AI, machine learning, and advanced engineering to help customers accelerate chip development and deliver high-performance semiconductor solutions.
Through customized driver development, Tata Elxsi enables faster SDK creation and quicker deployment across connected semiconductor platforms, supporting innovation in embedded and next-generation devices.
India's semiconductor story is picking up real pace, with the government now gearing up to roll out Semicon 2.0, a more streamlined approval process paired with stronger support for the wider chip ecosystem.
The goal is simple: cut down on paperwork and standardise how applications are processed to get projects approved faster and attract more investment across the entire semiconductor value chain.
As this ecosystem grows, companies across chip design, manufacturing, packaging, testing, materials, and engineering services all stand to gain from what appears to be a long-term opportunity.
The sector is still in its early days, no doubt, but the stocks on this list are reasonably well positioned to ride India's push to become a serious player in global semiconductors.
That said, this is still a young, evolving space. Therefore, investors should carefully evaluate these companies' fundamentals, corporate governance, and valuations as key factors when conducting due diligence before making investment decisions.
Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such.
This article is syndicated from Equitymaster.com
Equitymaster is India's leading independent equity research platform, providing in-depth research and analysis on BSE- and NSE-listed companies since 1996. As a SEBI-registered Research Analyst [Registration No. INH000021128], Equitymaster covers the full spectrum of Indian equities — bluechip stocks, midcap stocks, smallcap stocks, and microcap stocks.<br><br> At the heart of Equitymaster's research philosophy are the principles of value investing — particularly the margin of safety and the primacy of investment over speculation. All research is produced by an independent team of SEBI-registered research analysts with vast experience in Indian financial markets, using detailed systems and processes developed entirely in-house.<br><br> With over 17 lakh readers across 72 countries, Equitymaster is one of India's leading equity research publications. Since 1996, the goal has remained the same — to deliver honest, unbiased, and credible equity research that helps Indian investors make better, more informed decisions.
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