India Budget 2026-2027: Semiconductors, Manufacturing, and Tax Reforms

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Feb. 19, 2026 –

By Yashasvini Razdan, EE Times

Presenting the Union Budget for fiscal year 2026-2027, Indian Finance Minister Nirmala Sitharaman outlined measures spanning semiconductors, electronics manufacturing, infrastructure, financial markets, and tax administration, alongside a continued push for fiscal consolidation.

Rather than focusing primarily on subsidizing manufacturing capacity, the budget points to a broader effort to build the surrounding ecosystem needed for sustained participation by global semiconductor and electronics players. That shift is most visible in the evolution of the India Semiconductor Mission from a fab-centric incentive program to a wider industrial framework under ISM 2.0.

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