India Semiconductor Mission 2.0 in works to boost chipmaking
India is ramping up its plans to boost chip manufacturing with the India Semiconductor Mission 2.0 (ISM 2.0).
The government aims to table the cabinet note for approval by October 2025, responding to industry feedback and running low funds from the first phase.
This new version will raise support for the sector, with industry seeking an increase in investment to $20 billion to attract more semiconductor projects, though the final outlay has not yet been decided.
Wider range of incentives under ISM 2.0
ISM 2.0 is set to offer a wider range of incentives—think subsidies for everything from advanced chip packaging and display fabs to compound semiconductors, with top priority given to silicon wafer plants.
There's also talk of helping fabless startups and equipment makers get off the ground.
Industry leaders are teaming up with assembly and packaging companies, hoping applications will open by year-end, paving the way for India's next wave of homegrown tech innovation.