Cabinet Approves India Semiconductor Mission 2.0: 12 Projects Worth Rs. 1.64 Lakh Crore
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📌 Summary:
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Cabinet approved India Semiconductor Mission (ISM) 2.0 with 12 projects involving a total investment of Rs. 1.64 lakh crore
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ISM 2.0 builds on ISM 1.0 (launched 2021 with Rs. 76,000 crore outlay) under which Tata Electronics (Dholera) and CG Power (Sanand) fabs are under construction
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New projects include semiconductor fabrication (fabs), OSAT (Outsourced Semiconductor Assembly and Test) units, and display fabs across multiple states
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India aims to reduce its over 90% import dependence on chips, which are critical for electronics, defence, automobiles, and telecom
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Government provides up to 50% fiscal support for capital expenditure in approved projects
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India targets becoming a global semiconductor hub by 2030; mission is part of broader "Atmanirbhar Bharat" push in critical technology
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Geopolitical context: China-Taiwan tensions and US-China tech war have accelerated global chip supply chain diversification, creating opportunity for India
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