India Semicon Mission 2.0 Awaits Cabinet Nod by March-End

• India Semiconductor Mission (ISM) 2.0, a fiscal support program for chip development and manufacturing, is drafted and ready for Cabinet approval.
• The Ministry of Electronics and IT (MEITY) aims for Cabinet approval by March-end 2026.
• ISM 2.0 is the next phase of the incentive program, following Phase 1 which was approved in 2021 with an outlay of ₹76,000 crores.
• Phase 1 saw 10 semiconductor projects approved, including fabs, display fabs, compound semiconductors, and ATMP facilities, with a cumulative investment of ₹1.6 lakh crores across 6 states.
• The outlay for ISM 2.0 is expected to exceed the ₹76,000 crores of Phase 1, requiring Finance Ministry approval after MEITY's drafting and inter-ministry consultations.

Why It Matters: India's ambitious ISM 2.0, with a higher outlay, is set for Cabinet approval by March-end 2026.