IT ministry seeks ₹1 lakh crore for India Semiconductor Mission 2.0: Officials

In a significant move to enhance its semiconductor capabilities, India’s IT ministry is considering a budget allocation exceeding ₹1 lakh crore for the India Semiconductor Mission 2.0 (ISM 2.0). This initiative aims to bolster the country's chip design, manufacturing, and supply chains, aligning with global trends in technology and electronics. The government is expected to make a formal announcement regarding the funding by the end of April. The initiative comes at a crucial time when the global semiconductor industry is facing supply chain disruptions and geopolitical tensions, prompting countries to invest in domestic manufacturing capabilities. By supporting ISM 2.0, India aims to not only meet its domestic demand for semiconductors but also position itself as a competitive player in the global semiconductor market. This funding is part of a broader strategy to enhance self-reliance in technology and reduce dependence on imports, thereby fostering innovation and economic growth within the country.