India launches ISM 2.0 ₹1.27L/cr announced by Ashwini Vaishnaw
Business
India just gave the green light to ISM 2.0, a massive ₹1.27 lakh crore push to ramp up homegrown chip manufacturing.
The plan, announced by Electronics and Information Technology Minister Ashwini Vaishnaw, hopes to draw in ₹4 lakh crore of investment, spark ₹2 lakh crore worth of production, and boost exports by another ₹1 lakh crore.
ISM 2.0 backs local fabs, suppliers
ISM 2.0 is all about making India less dependent on imported chips and building everything from raw silicon to finished circuits right here at home.
The mission offers up to 40% support for silicon fabs, up to 35% for other chip plants, and incentives for local suppliers of materials and equipment, so more tech jobs and a stronger spot for India in the global chip game are on the horizon.