The Finance Ministry's Expenditure Finance Committee has approved a Rs 1.25 lakh crore outlay for India Semiconductor Mission (ISM) 2.0, with the proposal now awaiting Union Cabinet approval. The enhanced scheme aims to strengthen India's chip ecosystem, boost domestic manufacturing, reduce import dependence, and help meet 75% of the country's semiconductor demand by 2030.
New Delhi: The Finance Ministry's Expenditure Finance Committee (EFC) has approved an outlay of Rs 1.25 lakh crore for the India Semiconductor Mission (ISM) 2.0, paving the way for the next phase of the country's semiconductor manufacturing push, according to a report in NDTV Profit.
The proposal was cleared by the committee last week and will now be sent to the Union Cabinet for final approval.
The proposed outlay marks a significant increase from the Rs 76,000 crore allocated as part of ISM 1.0, under which the government approved 10 semiconductor facilities across chip fabrication, assembly, and design.
The expanded scheme is expected to support the wider ecosystem, including industrial gases, specialty chemicals, capital equipment, MSMEs, and ancillary suppliers, with the aim of strengthening India's semiconductor supply chain.
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