New Delhi, June 30(APAC Media): The Finance Ministry has cleared a proposed outlay of Rs 1.25 lakh crore for the second phase of the India Semiconductor Mission (ISM 2.0), taking the government’s semiconductor manufacturing plan a step closer to Cabinet approval.
The Expenditure Finance Committee (EFC) approved the proposal during a meeting held last week, according to sources. The proposal will now be placed before the Union Cabinet for its final approval.
The planned allocation is significantly higher than the Rs 76,000 crore approved under the first phase of the India Semiconductor Mission. The increased funding signals the government’s continued focus on building a stronger domestic semiconductor ecosystem and reducing dependence on imported chips.
Under India Semiconductor Mission 2.0, the government plans to strengthen the entire semiconductor value chain. The proposal covers key areas such as chip design, semiconductor fabrication and chip packaging, aiming to expand India’s capabilities across different stages of semiconductor production.
The India Semiconductor Mission is the Centre’s flagship programme to support semiconductor manufacturing and develop a domestic supply chain. The expanded outlay is expected to support future projects and help accelerate investments in India’s growing semiconductor sector, subject to final Cabinet approval.
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