India's big semiconductor push: Mission 2.0 draft ready
India just wrapped up the draft for its Semiconductor Mission 2.0, aiming for cabinet approval by March.
This round comes with a bigger budget than last time (over ₹76,000 crore) and plans to cover everything from advanced chip factories to materials and design—not just manufacturing.
Why does it matter?
The first phase brought in ₹1.6 lakh crore of investments and saw several projects approved with some units nearing production, but policy proposals call for making sure funding actually reaches projects on time and that India starts making more of its own chip materials instead of importing them.
What's new this time?
The draft calls for funding tied to project milestones (so money only flows when work gets done), plus more support for research with universities and stronger technical oversight.
ISM 2.0 emphasizes steady support—aiming to bolster India's semiconductor capabilities and be among the top semiconductor nations by 2035.