Top 5 Semiconductor Companies in India – 2024

Think for a minute about all the interactions you had with electronic devices in the last 24 hours. It will include smartphones, home appliances, personal care devices, ATMs, electric vehicles, HVAC systems, and many more. Do you know the most essential unit in all these devices? That is none other than “Semiconductors.” It is very difficult to imagine a life without electronic devices, therefore, the demand for semiconductors has increased globally. Unfortunately, we have to import semiconductors which causes a huge expense. Therefore, the Indian government is encouraging indigenous companies to manufacture semiconductors in India only.

In this article, you will get well-detailed information about the “Top 5 Semiconductor Companies in India.”

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Semiconductors are materials that have conductivity between conductors (metals) and insulators (Plastic or ceramic). The mobility of electrons and valence electrons play a crucial role in the conduction of electricity.

Let me explain it thoroughly. Semiconductors are materials that can conduct electricity under certain circumstances like the presence of any impurities or changes in temperature. This allows the usage of electricity in a highly controlled and sophisticated manner. Therefore, semiconductors are widely used for highly critical devices where you cannot compromise performance, reliability, and accuracy in a varied environment. Semiconductors can be either pure elements (like Germanium or Silicon) or doped compounds (like Gallium arsenide).

Uses of Semiconductors

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The controllable conduction of electricity in semiconductors makes them ideal for the reliable functioning of electronic devices like-

  • Transistors
  • Diodes
  • Photo-sensors
  • Micro-controllers
  • Integrated chips
  • Capacitors
  • Solar cells
  • Calculators
  • Resistors
  • Electrical circuits
  • Operational Amplifier (op-amp)

An Overview of Semiconductor Companies in India

S. No.Company’s NameMarket Capitalization in INR Crores
1.Vedanta Ltd1,17,482
2.TATA Elxsi Ltd38,956
3.Dixon Technologies (India) Ltd21,231
4.MosChip Technologies Ltd1,145
5.ASM Technologies Ltd543


This section provides you with detailed information about the semiconductor companies listed above in the table.

1: Vedanta Ltd

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Vedanta Limited is a multinational mining company that began its operations in 1979 in India. Even though, it is mainly associated with the mining operations of iron ore, gold, copper, lead, zinc, and aluminum. But it belongs to the industry of mining, oil, gas & electric utility. Henceforth, it conducts most of the mining process in mineral or ore-rich regions of India like Karnataka, Odisha, Rajasthan, and Goa.

Recently, the Chairman described the need for two plants to meet the worldwide demand for semiconductors. So, it has set up its first plant in Gujarat for its enormous semiconductor project. Chiefly, the objective is to manufacture semiconductor chips of 28nm. Although, this project is a joint venture with Taiwan’s Foxconn and India’s Vedanta. But the former will own 60% of the equity while the latter will own the remaining 40%. Hence, it invested a huge amount to set up a fabrication plant. However, this plant will begin its operation in 2024. Its market cap is 1,17,482 crore.

2: TATA Elxsi Ltd

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Established in 1989, TATA Elxsi mainly operates in two segments i.e., system integration and software development services related to computers. Chiefly, it is involved in the business of semiconductor services that includes artificial intelligence tools, multimedia reference frameworks, functional safety compliance, software development kits (SDK), etc. Its market capitalization is INR 38,956 crore. The head office of TATA Elxsi is present in Bengaluru (India).

3: Dixon Technologies (India) Ltd

Dixon Company Logo

This company mainly manufactures electronic items like mobile phones, home appliances, lighting products, televisions, CCTV s, etc. As you know, semiconductors are the crucial components of electronic products, Dixon Technologies (India) Ltd is associated with the manufacturing of semiconductors as well. It stands out in the market due to its dominant position. Simultaneously, the government has laid out 38,650 crores under the PLI scheme for the electronic segment. (Note: PLI or Production Linked Incentive Scheme is a governmental program for the manufacturing of electronics on a large scale).

Eventually, it helped Dixon to deliver an outstanding performance in the fine financial year 2022. Also, its market capitalization is INR 21,231 crores.

4: MosChip Technologies Ltd

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This company is associated with the manufacturing of semiconductors and system development services. However, it mainly focuses on the designing of loT/E (Internet of Things/Everything) solutions, mixed-signal IP, Turnkey ASICs (Application Specific Integrated circuits), and chips. Also, it is the first public sector-listed company in the semiconductor industry. Eventually, it mastered the science responsible for ASIC/SoC/FPGA RTL design, verification, synthesis, STA, physical design, silicon chips testing, etc. (Note: STASTore Accumulator contents in memory).

Even though being established in 1999, it has a market capitalization of INR 1,145 crores. Thus, it excels in the semiconductor industrial sector in terms of design, production, devices, innovation, and advancement of technology. 

5: ASM Technologies Ltd

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It was established in 1992 as a Semiconductor Equipment Manufacturing Company. Therefore, it has expertise in the designing and development of systems related to PVD (Physical Vapor Deposition), CVD (Chemical Vapor Deposition), CMP (Chemical Mechanical Planarization), and a broad spectrum of inspection tools. They also forayed into virtual areas of virtual reality (VR) and the internet of things (IoT). Presently, it has a market capitalization of INR 543 crores.


Since we all know the significance of semiconductors in the field of electronics, therefore, to meet the demands India imports most of the semiconductors from Taiwan, China, Korea, and Vietnam. Thus, the companies involved in the manufacturing of semiconductors are key players in the vision of a self-reliant India. The Ministry of Electronics and Information Technology has estimated that the semiconductor market will grow significantly.

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Published By: Supti Nandi
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