India approved a new semiconductor programme on Wednesday, offering more than $13 billion in financial assistance to accelerate local chip production, as it seeks to become a global electronics powerhouse.

Modi's cabinet approved $13.3B for semiconductors and $6.5B for smartphones. The minister said Modi wants India to "create an Indian mobile brand."

The 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…

The Union Cabinet approved significant new schemes for semiconductor and mobile phone manufacturing. The India Semiconductor Mission's second phase will receive ₹1.27 lakh crore…