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Cabinet approves Rs 1.27 lakh crore for Semicon Mission 2.0
The Hindu··15 Jul
The Union Cabinet on July 15 cleared Rs 1.27 lakh crore for India Semiconductor Mission 2.0, IT Minister Ashwini Vaishnaw said. The government expects the scheme to attract around Rs 4 lakh crore in investments and produce semiconductors worth Rs 2 lakh crore during the scheme period. ISM 1.0 had allocated Rs 76,000 crore and approved 12 projects.
Prism
What It Means For You
- India aims to reduce dependence on imported semiconductors for electronics and AI.
- Job opportunities may grow in chip design, manufacturing and supply chains.
- Consumer electronics prices could stabilise if domestic chip production scales up.
What's Happening
- Union Cabinet approved Rs 1.27 lakh crore for ISM 2.0 on July 15.
- The scheme covers six pillars across the semiconductor value chain.
- Government expects Rs 4 lakh crore in investments during the scheme period.
Semiconductor Mission Context
- ISM 1.0 allocated Rs 76,000 crore and approved 12 projects.
- Tata Electronics leads domestic investment under the first mission.
- Global memory chip shortage makes the timing significant for India.
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