L&T Semiconductor Technologies is preparing to unveil roughly 40 semiconductor products at the upcoming SEMICON India event, marking a significant step in the company’s two-year product-development cycle and adding a concrete company-level milestone to India’s broader chip-manufacturing push. Chief Executive Sandeep Kumar said the company has spent “a little over two years” developing the portfolio and is now ready to showcase the products publicly. The planned unveiling comes as the government’s semiconductor programme moves from early approvals and incentive design into a more execution-heavy phase, with domestic design, packaging, testing and manufacturing capacity becoming a sharper industrial priority.
The company’s planned product showcase sits alongside a wider policy reset under India Semiconductor Mission 2.0. MeitY Secretary S Krishnan said the new phase has an outlay of Rs 1,27,500 crore and is intended to broaden the programme beyond fabs and OSAT facilities into a fuller ecosystem spanning equipment, materials, gases and chemicals. He described 2026 as a turning point, with three semiconductor units already in commercial production and two more expected to go on stream before year-end. The government is also looking to add four to five new fabs, including logic, memory, display and compound semiconductor facilities.
A key design shift in ISM 2.0 is the restructured Design Linked Incentive framework. The earlier scheme primarily targeted startups and MSMEs, but the updated approach is expected to open eligibility to larger companies as well, reflecting the capital intensity of viable chip design. Krishnan also referred to a co-investment mechanism intended to bring in venture capital and private equity, with market signals helping determine which companies receive support rather than relying only on government selection. That change is important for companies trying to scale from design capability to commercially relevant products and supply relationships.
L&T Semiconductor’s move is notable because product readiness is one of the harder markers of progress in a sector often discussed through headline investment commitments. The company’s CEO said India’s first-phase semiconductor projects, including OSAT activity and facilities linked to Micron, Kaynes and CG Power, are “coming together,” while also noting that further results will determine whether L&T increases its investment. The near-term test for the sector will be whether product announcements translate into validated designs, customer wins, packaging partnerships and reliable supply timelines. For enterprise, telecom, automotive, industrial and electronics buyers, the development adds another signal that India’s chip push is beginning to produce more than capacity announcements.
