Cabinet approves Rs 1.27 lakh crore for Semicon India 2.0 to boost domestic chip ecosystem

NEW DELHI: In a major push to India’s semiconductor ambitions, the Union Cabinet has approved an outlay of Rs 1.27 lakh crore for the second phase of the India Semiconductor Mission (Semicon India 2.0). The approved allocation is significantly higher than the Rs 76,000 crore earmarked under the first phase of the India Semiconductor Mission, which was launched to attract semiconductor manufacturers to establish facilities in India.

Union Minister for Electronics and Information Technology Ashwini Vaishnaw said that, under Semicon India 2.0, incentives will be provided on a pari-passu basis, with government support released in proportion to the investments made by companies.