India, July 15 -- The Union Cabinet, chaired by Indian Prime Minister Narendra Modi, has approved the Semicon 2.0 for the development of India's semiconductor design and manufacturing ecosystem, with a total budget outlay of Rs.1,27,500 crore.

Recognising the requirement for a sustained and long-term support to Semiconductor sector in India and also to build on the momentum generated under Semicon1.0, Semicon 2.0 aims to further the Government's commitment towards putting our country on the semiconductor map of the world.

Semicon 2.0 is aimed to holistically build the semiconductor ecosystem on the following six pillars:

First pillar: Design: Semicon 2.0 will build upon the initial success in chip design. With 105 startups already star...