Cabinet allocated ₹1.27 lakh crore to expand India's commitment to semiconductor design and manufacturing
The government plans to support intellectual property (IP) creation, semiconductor designs and system-level products
The approval comes after the first phase of the India Semiconductor Mission recorded investments exceeding ₹1.64 lakh crore
Cabinet Outlays ₹1.27 Lakh Cr For Semiconductor Mission 2.0 To Boost Chip Design, Manufacturing
The programme will expand support for chip design, building on the progress made under the first phase, where 105 start-ups have already begun developing semiconductor products
Semiconductor manufacturing Adobe Stock
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The Union Cabinet on Wednesday approved the second phase of the India Semiconductor Mission (ISM 2.0), allocating ₹1.27 lakh crore to expand the country's semiconductor design and manufacturing ecosystem and provide long-term policy support to the sector.
"Cabinet has approved ISM 2.0 with a total outlay of ₹1.27 lakh crore," Union Electronics and IT Minister Ashwini Vaishnaw announced the decision after the Cabinet meeting.
Semicon 2.0 has been designed around six focus areas to build a comprehensive semiconductor ecosystem.
The programme will expand support for chip design, building on the progress made under the first phase, where 105 start-ups have already begun developing semiconductor products.
The government plans to support intellectual property (IP) creation, semiconductor designs and system-level products with the objective of strengthening India's position in global chip design.