India pushes ISM 2.0 with ₹1.27L/cr for chip design R&D
Business
India is making a big push in the semiconductor game with ISM 2.0, backed by a hefty ₹1.27 lakh crore investment.
This time, the focus is shifting from buying land and transferring tech to designing chips and ramping up research and development, basically, building brains for everything from smartphones to cars.
ISM 2.0 up-to-75% research subsidy
ISM 2.0 offers up to 75% subsidy for cutting-edge chip research (like those tiny seven-nanometer chips), while support for manufacturing gear is capped at 30%.
The government wants India to meet most of its own chip needs by 2029 and aims to become a global leader by 2035.
State governments will handle land incentives now, making things more streamlined for new projects.