India, July 15 -- The Union Cabinet has approved the India Semiconductor Mission (ISM) 2.0, allocating Rs.1.27 lakh crore to strengthen the country's semiconductor and electronics manufacturing ecosystem. The ambitious programme is expected to attract around Rs.4 lakh crore in private investments, significantly expanding India's chip manufacturing capabilities and reducing dependence on imports.

Building on the progress of the first phase of the mission, ISM 2.0 introduces a six-pillar strategy focused on semiconductor fabrication, chip packaging and testing, design innovation, research and development, skill development, and creating a resilient supply chain.

The initiative aims to position India as a global hub for semiconductor manuf...