SRINAGAR: Finance Minister Nirmala Sitharaman on Sunday announced the launch of India Semiconductor Mission (ISM) 2.0 during her ninth Union Budget presentation in the Lok Sabha.
The mission, initially launched in 2021 under the Ministry of Electronics and Information Technology (MeitY), will now expand beyond setting up fabrication units to strengthen the broader semiconductor ecosystem in India. ISM 2.0 will focus on production of equipment and materials, development of Indian intellectual property (IP), and reinforcement of supply chains.
In addition, the government increased the budget allocation for the Electronics Component Manufacturing Scheme (ECMS) to Rs 40,000 crore to support domestic electronics production.
The initiative aims to create a complete semiconductor ecosystem covering chip design, fabrication, and testing, while reducing reliance on imports and attracting investment in the sector.
