My theory is semi conductor industry will not be successful in India. Not that am being too negative or cynic, but simply because we lack water. Unlike other manufacturing industries SC industry requires lot of water. We are extremely inefficient in water management. and no politician will like to take any risk that may affect the farmer. Unlike other products that can run with our Chaltha hai quality, this one requires precision and high quality. So this will be like the biotech industry that became a dead end.
We may end up having an industry that make entry level chips for items like e a door bell or wall clock. AI level chips are certainly not going to happen.