
SparX by Mukesh Bansal PM’s Economic Adviser on India’s Semiconductor Future | Neelkanth Mishra | SparX
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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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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.
Early Proposals Were Paper-Only
- Early project proposals were often just PowerPoint presentations lacking teams or capital.
- Neelkanth recalls an embarrassing meeting where a foreign partner sought 5% equity without putting skin in the game.
