Cabinet approves ₹1.27 lakh crore India Semiconductor Mission 2.0

The Union Cabinet has approved the India Semiconductor Mission 2.0 with a budget outlay of ₹1.27 lakh crore. Under the second phase the government plans to incentivise raw material suppliers in the semiconductor industry and reduce reliance on imports across the industry. The mission will also focus on domestic semiconductor design ecosystem and attracting more chip fabrication units to India.