India Semiconductor Mission 2.0 secures funding worth ₹1.25 lakh crore
What's the story
The Expenditure Finance Committee (EFC) has approved an allocation of ₹1.25 lakh crore for the second phase of the India Semiconductor Mission (ISM 2.0). The decision was made during a meeting last week, as per CNBC-TV18. The approval clears the way for ISM 2.0 to be presented to the Union Cabinet for consideration and final approval.
Mission objectives
ISM 2.0 to cover all aspects of chip production
ISM 2.0 will focus on strengthening the entire semiconductor value chain, including chip design, fabrication, and packaging. The proposed outlay is a major increase from the first phase of the India Semiconductor Mission where ₹76,000 crore was allocated by the government. The initiative is part of India's efforts to create a self-sustaining semiconductor ecosystem and improve its capabilities in this critical sector.