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Cabinet Approves India Semiconductor Mission 2.0; Earmarks Rs 1.27 Lakh Crore for the Project
The scheme targets chip design, manufacturing and R&D, and officials expect about Rs 4 lakh crore in investment during the programme period.
- On Wednesday, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved Rs 1.27 lakh crore for the second edition of the India Semiconductor Mission, IT Minister Ashwini Vaishnaw said.
- This program builds on India Semiconductor Mission 1.0, which has already approved 12 manufacturing units with a cumulative investment of over Rs 1.64 lakh crore, Vaishnaw noted.
- Semicon 2.0 adopts a six-pronged strategy to develop the domestic ecosystem, supporting chip design, manufacturing equipment, materials, fabrication units, advanced packaging, and research, according to the government.
- Officials reported that 315 universities are training students in chip design, while around 68,000 students have received specialized instruction to support India's expanding semiconductor manufacturing ecosystem.
- The government expects the new scheme to attract investments of around Rs 4 lakh crore and generate semiconductor production worth Rs 2 lakh crore, aiming for self-reliance in indigenous chip manufacturing.
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Union Cabinet approves Semicon 2.0 & Urea self-reliance policy
New Delhi: The Union Cabinet on July 15, Wednesday approved seven major decisions, including Semicon 2.0, the Mobile Phone Manufacturing Scheme (MPMS) and the National Investment Policy for Urea-2026, along with infrastructure and railway projects. The total outlay of the approved projects stands at Rs 2,19,353 crore. Addressing the media after the Cabinet meeting, Union Information and Broadcasting Minister Ashwini Vaishnaw said seven major dec…
India is allocating an additional 1.3 trillion rupees – nearly 12 billion euros – to domestic semiconductor production. With this, the country is taking another step in its ambitious pursuit of becoming a global manufacturing hub.
·Amsterdam, Netherlands (Kingdom of the)
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Total News Sources35
Leaning Left4Leaning Right11Center7Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 18%
C 32%
R 50%
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