The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved India Semiconductor Mission (ISM) 2.0, earmarking Rs 1.27 lakh crore, along with a Rs 62,500-crore Mobile Phone Manufacturing Scheme (MPMS), in a major expansion of the government's push to build a domestic electronics manufacturing ecosystem and strengthen India's position in the global semiconductor supply chain.
The semiconductor package, approved with a budgetary outlay of Rs 1,27,500 crore, builds on the momentum of Semicon 1.0 and seeks to further the government's commitment to putting India on the global semiconductor map by strengthening the country's semiconductor design and manufacturing ecosystem.
