India Set to Approve Next Round of Semiconductor Projects Under ISM: Reports
The Indian government is finalizing approvals for the next set of semiconductor project proposals under the India Semiconductor Mission (ISM). Several media reports said that applications from an HCL Group-Foxconn joint venture, Hiranandani’s Tarq Semiconductors, and two or three other firms are under review.
However, IGNITO couldn’t verify the reports independently.
Finalizing Pending Investments Under Phase 1
A senior official stated that ₹4,600-4,700 crore from the initial ₹76,000 crore outlay for ISM’s first phase remains unallocated. These funds will be utilized to support the latest proposals, marking a significant step toward strengthening India’s semiconductor ecosystem.
Semicon 2.0: Expanding India’s Chip Industry
Once Phase 1 funds are exhausted, the government will launch Semicon 2.0, expanding support beyond fabrication and packaging units to include component manufacturers, raw material suppliers, and key industry players. Electronics & IT Minister Ashwini Vaishnaw confirmed that the upgraded mission will build a comprehensive semiconductor ecosystem.
The India Semiconductor Mission aims to position India as a global leader in semiconductor manufacturing and design, fostering self-reliance and technological innovation.
Source: Moneycontrol
