Cabinet approves ₹1.27 lakh crore for Semicon Mission 2.0, for mobile manufacturing, new highways
The Indian Cabinet has approved ₹1.27 lakh crore for the second phase of the India Semiconductor Mission to boost domestic chip manufacturing. The initiative aims to achieve self-reliance in chip design and production while addressing global supply shortages.
Why it matters
This investment is a strategic move to position India as a global hub for semiconductor manufacturing and reduce dependency on foreign imports.
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has cleared several projects, including ₹1.27 lakh crore for the second edition of India Semiconductor Mission and ₹62,500 crore for the mobile phone manufacturing scheme (MPMS) as part of efforts to localise manufacturing amid raging West Asian crisis.
The report focuses on government policy and economic investment, presenting the information in a factual manner.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in