mumbai, Aug. 27 -- Four of India's top conglomerates have cumulatively invested over Rs.4,000 crore in semiconductor projects over the past two fiscals, with three tapping government sops as they bet on rising local demand for processors, memory chips, storage and other silicon products. Starting January 2025, Tata Electronics, CG Power and HCL Group have announced semiconductor projects worth Rs.1.29 trillion under the India Semiconductor Mission. Since then, these firms have invested Rs.3,345 crore in as many semiconductor manufacturing and assembly plants in India. Including L&T's Rs.812 crore investment in chip design, the total rises to Rs.4,157 crore. These investments reflect growing interest among India's oldest industrial groups in venturing into frontier technologies, while industry stakeholders said the investments made so far mark a promising start. "Conglomerates acting as anchor investors bring credibility to the industry and demonstrate investment appetite," said Ashok Chandak, president of industry body India Electronics and Semiconductor Association. The Centre has earmarked over Rs.2 trillion in total outlay under two semiconductor incentive plans-Rs.76,000 crore under Semicon 1.0, launched in 2021, and Rs.1.27 trillion under Semicon 2.0, approved in July 2026. Filings made with the ministry of corporate affairs, and accessed by Mint, showed that between FY25 and FY26, Tata Electronics invested Rs.2,401 crore over six tranches in two step-down semiconductor subsidiaries-Tata Semiconductor Assembly and Test (TSAT) Pvt. Ltd, and Tata Semiconductor Manufacturing (TSM) Pvt. Ltd. In February 2025, the Centre approved two Tata Electronics projects-a semiconductor fabrication plant, or 'fab', in Dholera, Gujarat, and an outsourced semiconductor assembly and testing (OSAT) plant in Jagiroad, Assam-with a combined project cost of Rs.1.18 trillion. At the same time, Chennai-based Murugappa Group's electricals division, CG Power and Industrial Solutions Ltd, has invested Rs.820 crore in CG Semi-a joint venture (JV) between CG Power, Japan's chip design firm Renesas and Thailand's OSAT operator Stars Microelectronics. A year later, in May 2025, the HCL Group received approval to set up a Rs.3,700-crore semiconductor plant in Jewar, Uttar Pradesh, through India Chip, a 60:40 JV with Taiwanese electronics manufacturer Foxconn. On April 15, the group invested Rs.124 crore in India Chip to begin construction of the project. With central and state subsidies making up at least 70% of the announced project costs, the amount invested so far represents only a fraction of the Rs.1.29 trillion in total multi-year investments committed by Tata Electronics, HCL and CG Power. Larsen & Toubro invested Rs.812 crore in its chip design subsidiary-L&T Semiconductor Technologies Ltd (LTSCT). Notably, LTSCT is not a beneficiary of government incentives under the first phase of the India Semiconductor Mission....