India readies $20B semiconductor incentive plan for global chipmakers
India is gearing up to launch a $20 billion incentive plan to attract big semiconductor makers from around the world.
The Ministry of Electronics and IT is waiting on finance ministry approval, with a final call expected in 2025—right as the first phase of the India Semiconductor Mission (ISM) wraps up.
ISM 2.0: More than just factories
This new ISM 2.0 scheme isn't just about building factories—it's aiming to boost everything from chip design and new materials to India's first display fab unit.
By supporting local manufacturing and startups, India hopes to rely less on imports and build a stronger homegrown tech scene.
Projects like Tata Electronics' massive $11 billion plant show there's real momentum, and these design-focused incentives could help put India on the global semiconductor map.