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Published 15 July 2026 · tech

Next Govt's revamped chip push; Emergent turns unicorn Want this newsletter delivered to your inbox? Also in the letter Government approves Rs 1.27 lakh crore

Next Govt's revamped chip push; Emergent turns unicorn Want this newsletter delivered to your inbox? Also in the letter Government approves Rs 1.27 lakh crore for ISM 2.0, expects Rs 4 lakh crore of investments Scheme details The government expects the programme to bring Rs 4 lakh crore in investments, Rs 2 lakh crore in production and Rs 1 lakh crore in exports. The scheme spans the entire semiconductor value chain – from sand and silicon ingot wafers to fabricated wafers, integrated circuits, and electronic bare components and subassemblies. Support will come via grants, equity co-investment and royalty-based funding for large chip design investments. Incentives go up to 40% for silicon fabs, 35% for other fabs and up to 30% for materials, gases, chemicals and semiconductor equipment. Also Read India's chip startups cross from prototype to production Mobile push India's mobile phone output rose to Rs 5.5 lakh crore in FY 2024-25, up from Rs 2.14 lakh crore in FY 2019-20.

Smartphones emerged as India's top export in calendar year 2025, with exports worth Rs 2.62 lakh crore, led by Apple. Also Read India's semiconductor startups see investor interest building Vibe-coding startup Emergent's valuation jumps 5x to $1.5 billion in new funding Unicorn round The round was led by Creaegis, with participation from MNI Ventures, Claypond Capital, Sentinel Global, Khosla Ventures, SoftBank, Lightspeed and Y Combinator. The new valuation is about 5x higher than it was six months ago. Emergent has now raised $230 million in total. The fundraise, however, is smaller than the $200-250 million round Emergent had initially targeted, sources told us. CEOSpeak Also Read ETtech Explainer: What Emergent's ARR reveals about AI's numbers game Groww Q1 profit nearly doubles to Rs 735 crore; MTF, commodities gain share By the numbers Net profit: Up 94.4% year-on-year (YoY) to Rs 735 crore from Rs 378 crore, attributable to the company's shareholders.

Up 94.4% year-on-year (YoY) to Rs 735 crore from Rs 378 crore, attributable to the company's shareholders. Revenue from operations: Rose 66% YoY to Rs 1,501 crore from Rs 904 crore. Rose 66% YoY to Rs 1,501 crore from Rs 904 crore. Sequentially: Total income slipped 0.3% from Rs 1,505 crore in the March quarter, while net profit rose 7% from Rs 686 crore. Also Read Client uptick Also Read Zerodha, Groww, Angel One, Upstox get Gift City nod to offer US stocks to Indian investors Ather Energy raises Rs 1,200 crore from IJF, Hero Motocorp, founders Round details Hero MotoCorp will commit Rs 960 crore via convertible warrants. India-Japan Fund (IJF) will invest Rs 200 crore through equity shares. Cofounders Tarun Mehta and Swapnil Jain will each infuse Rs 20 crore. The issue, subject to shareholder approval, increases the preferential allotment size from Rs 1,000 crore to Rs 1,200 crore.