SynopsisThe Union Cabinet approved India Semiconductor Mission 2.0 with significant funding. A Rs 62,500 crore Mobile Phone Manufacturing Scheme was also cleared. These initiatives aim to boost domestic electronics manufacturing capabilities. The approvals are part of seven key decisions worth over ₹2.19 lakh crore. These measures will strengthen India's global supply chain position.Listen to this article in summarized formatANIRepresentative imageThe Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved India Semiconductor Mission (ISM) 2.0, earmarking Rs 1.27 lakh crore, along with a Rs 62,500-crore Mobile Phone Manufacturing Scheme (MPMS), in a major expansion of the government's push to build a domestic electronics manufacturing ecosystem and strengthen India's position in the global semiconductor supply chain.The semiconductor package, approved with a budgetary outlay of Rs 1,27,500 crore, builds on the momentum of Semicon 1.0 and seeks to further the government's commitment to putting India on the global semiconductor map by strengthening the country's semiconductor design and manufacturing ecosystem.Also read: Cabinet highlights: India clears Rs 2.19 lakh crore mega push across chips, corridors and mobile manufacturingAnnouncing the decisions after a meeting of the Union Cabinet and the Cabinet Committee on Economic Affairs (CCEA), Electronics and Information Technology Minister Ashwini Vaishnaw said the semiconductor package was among seven major decisions cleared under the prime minister's chairmanship."I am presenting before you the seven major decisions taken by the Cabinet and the Cabinet Committee on Economic Affairs (CCEA) under the chairmanship of Prime Minister Narendra Modi. The first two decisions relate to a programme for developing infrastructure in Varanasi (Kashi) in a completely new way. The third, fourth, and fifth decisions relate to the Semicon 2.0 Mission (Semiconductor 2.0 Mission), which was approved today," Vaishnaw said.According to the government, Semicon 2.0 aims to holistically build India's semiconductor ecosystem through six pillars. These include developing semiconductor intellectual property (IP), chip designs and systems; incentivising the manufacturing and research and development of semiconductor equipment, materials, chemicals and gases; attracting more semiconductor fabrication units (fabs) to India; further strengthening the Assembly, Testing, Marking and Packaging (ATMP)/Outsourced Semiconductor Assembly and Test (OSAT) industry; promoting research and development; and expanding talent development.The government said the scheme is expected to support economic growth, strengthen supply chain resilience and establish technological leadership in critical sectors.Vaishnaw also announced the approval of the Rs 62,500-crore Mobile Phone Manufacturing Scheme (MPMS) as part of the Cabinet decisions."The fourth decision is the approval of the Mobile Phone Manufacturing Scheme. The fifth decision is aimed at making India self-reliant in urea, for which the National Investment Policy for Urea was approved today. The sixth and seventh decisions relate to proposals for the upgradation of the railway network, including track doubling and the construction of a fourth railway line," the Union Minister said.The approvals formed part of a broader package of seven Cabinet decisions worth about Rs 2.19 lakh crore, which also included infrastructure projects in Varanasi, the National Investment Policy for Urea-2026, the doubling of the Paradeep-Haridaspur railway line, and the construction of a fourth railway line between Dangoaposi and Rajkharsawan.Together, the measures are aimed at boosting manufacturing, infrastructure and industrial competitiveness across sectors.Read More News on...moreless