India doubles down on pari passu funding for ISM 2.0
India is doubling down on its pari passu funding model for the next phase of its semiconductor push, called ISM 2.0.
Basically, this means companies get government funds step by step as they actually spend on their projects, helping keep things on track and attracting serious investment.
The approach already paid off in the first round, cutting down delays and wasted money.
ISM 2.0 targets homegrown chips
ISM 2.0 is all about boosting homegrown chip tech, focusing on making equipment, materials, and even developing original Indian semiconductor designs.
India's aiming to rely less on imports and build a stronger supply chain for everything from electronics to cars.
Fun fact: the first phase saw cumulative investment commitments of ₹1.64 lakh crore, exceeding its original target of ₹1.60 lakh crore, with projects like India's first Mini/Micro-LED display plant approved to be set up in Gujarat.