India Plans ₹1.2 Lakh Crore Boost for Semiconductor Mission 2.0
The Finance Ministry has approved ₹1.2 lakh crore budget which will help India develop its semiconductor program, sources familiar with the matter said. The proposal needs to gain Union Cabinet approval which will take place later this month.
The ISM 2.0 program will develop domestic capabilities in all parts of the semiconductor production process. The new strategic plan focuses on research and development activities together with chip design and innovation work while shifting from manufacturing-based benefits to a complete ecosystem development method.
The upcoming phase includes support for advanced semiconductor technologies which will enable India to produce 3nm and 2nm nodes that match current global chipmaking standards. The first phase of ISM received funding of ₹76,000 crore which has resulted in multiple project approvals worth more than ₹1.6 lakh crore.
Domestic and international companies like Micron Technology and Tata Group are making investments in semiconductor and packaging plants across India which helps build the ecosystem.
India has expanded its semiconductor program to become a vital center for worldwide chip production.
Source: Moneycontrol
