Rs 10 lakh cr semiconductor bet isn’t just about chips: 3 ‘other’ stocks investors could miss

India's semiconductor story is moving beyond chip factories. The India Semiconductor Mission (ISM) has already set the foundation for domestic chip manufacturing and packaging. With ISM 2.0, the focus is widening to equipment, materials and other parts of the semiconductor supply chain. This matters for chemical companies. Every semiconductor requires specialised chemicals at multiple stages of manufacturing. According to Aether Industries' management, India's semiconductor and electronics market is expected to double from roughly $50 billion today to $110 billion (around ₹10 lakh crore) by 2030. This growth could drive demand for specialised semiconductor chemicals. The opportunity, however, is not only about supplying chemicals. Semiconductor manufacturers require high-purity products, consistent quality and rigorous customer validation. This creates a high entry barrier. But this also gives established chemical companies an opportunity to build a new growth engine. This article examines three Indian chemical companies diversifying into semiconductor chemicals.