en.Wedoany.com Reported - The Expenditure Finance Committee (EFC) of the Indian Ministry of Finance has approved an allocation of ₹1.25 trillion for India Semiconductor Mission (ISM) 2.0, paving the way for the next phase of semiconductor manufacturing advancement in the country.
The proposal was approved by the EFC last week and has now been submitted to the Union Cabinet for final approval. The proposed allocation marks a significant increase from the ₹760 billion under ISM 1.0. Under the ISM 1.0 framework, the government approved 10 semiconductor facilities covering areas such as chip manufacturing, packaging, and design.
The expanded plan is expected to support a broader ecosystem, including industrial gases, specialty chemicals, capital equipment, micro, small, and medium enterprises (MSMEs), and ancillary suppliers, aiming to strengthen India's semiconductor supply chain.
The government anticipates that the enhanced program will help India meet 75% of its domestic semiconductor demand by 2030, reducing import dependence and supporting its ambition to become a global electronics manufacturing hub.
NDTV Profit first reported on April 21 that the government was preparing to launch an expanded semiconductor incentive plan with an allocation ranging between ₹1 trillion and ₹1.2 trillion. At that time, inter-ministerial consultations were underway, and the Ministry of Electronics and Information Technology was awaiting approval from the Ministry of Finance.
