India narrows central ISM 2.0 chipmaker incentives, expects state support
India is dialing back central government incentives for chipmakers under ISM 2.0, saying the industry's grown up a bit.
Now, incentives will mainly target key projects, and states are expected to pitch in more.
As S Krishnan from MeitY put it, Krishnan said the government is "clearly signaling the higher-priority items."
The big picture? India still wants to be a global semiconductor hub and cut down on imports.
ISM 2.0 budget set at ₹1.27L/cr
ISM 2.0 comes with a much bigger budget, ₹1.27 lakh crore compared to ₹76,000 crore last time, and hopes to pull in ₹4 lakh crore of investment over the next decade or so.
There's also fresh support for Indian companies (not just startups), plus a new ₹62,500 crore mobile manufacturing scheme that could mean more jobs and way more phones made in India.