India, July 16 -- Global spending on semiconductor manufacturing equipment is projected to reach a record USD 165.9 billion in 2026, rising 23.2% from a year earlier as Artificial Intelligence (AI) drives demand for advanced chip manufacturing, memory technologies, and packaging equipment, according to SEMI's Mid-Year Total Semiconductor Equipment Forecast.

The forecast comes as India expands its own semiconductor ambitions. The Union Cabinet this week approved India Semiconductor Mission (ISM) 2.0, with an outlay of Rs 1.27 lakh crore, to strengthen semiconductor design, manufacturing, equipment, materials, research, and talent capabilities. The move is aimed at building on the country's existing semiconductor programme and expanding it...