Where Dependency Meets Feasibility: SiC Power and Display-Driver ICs Are the Build-Now Surfaces

The opposite corner of the map from the chokepoints is where the near-term opportunity sits: products India imports heavily but could realistically make. Silicon-carbide (SiC) power semiconductors score 82 on dependency yet 62 on localisation potential and 80 on investment attractiveness. Display-driver ICs are similar (80 / 62 / 78). These are not moonshots; they are viable industrial ventures with a real import to displace.

The three-index test

Reading dependency, localisation and investment attractiveness together is what separates a Build-now surface from a Watch item. EUV resist scores 95 on dependency but 5 on localisation — a Watch bet. SiC scores lower on dependency but far higher on feasibility and economics — a Build-now bet. The prize is not always where the dependency is deepest; it is where deep-enough dependency meets buildable capability and workable returns.

What the signal means

For investors and policymakers the actionable list is the high-dependency, high-localisation, high-attractiveness intersection — power electronics (SiC, GaN), display drivers and similar mid-stream components. They reduce a real import while paying back on commercial terms, which is what makes an industrial-policy bet durable rather than subsidy-dependent.