India approves ISM 2.0 with ₹1.28L/cr to boost chip manufacturing
India just approved the second phase of its India Semiconductor Mission (ISM 2.0), putting ₹1.28 lakh crore on the table to boost local chip manufacturing and attract global players.
The first phase set things rolling with 12 manufacturing and 24 design projects already in motion.
India's ISM 2.0 incentivizes local suppliers
This new phase is all about making it easier to produce semiconductors in India: think better equipment, materials, and packaging, plus incentives for local suppliers so key ingredients don't have to be imported.
As ISM CEO Amitesh Kumar Sinha noted, if the mission can get more of these materials made in India, it would make the chip industry faster and more cost-effective.
The mission also aims to close supply chain gaps and encourage partnerships with international companies, helping India become a bigger player in the global chip scene.