New Delhi, July 15 -- The Union Cabinet on Wednesday cleared Rs.1.27 lakh crore for the second edition of India Semiconductor Mission, Union IT Minister Ashwini Vaishnaw informed.

"Cabinet has approved ISM 2.0 with a total outlay of Rs.1.27 lakh crore," Vaishnaw said.

The new edition of the semiconductor programme will provide incentives to companies that supply raw materials, such as minerals and gases, used in chip manufacturing.

The minister said that the programme will focus on design, development and production of indigenous chips. "We will be self-reliant in the production of indigenous chips by the end of this programme."

The new scheme has come at an appropriate time, as the world reels from a memory chip shortage and companie...