India Semiconductor Mission
Why it Matters?
The Union Cabinet approved four semiconductor projects worth ₹4,594 crore under the ₹76,000-crore India Semiconductor Mission (ISM), raising total projects to 10.
What You Should Know?
It was launched in December 2021 under Digital India Corporation, Ministry of Electronics & IT (MeitY) as a specialised and independent business division.
It has full administrative and financial authority, with the mandate to drive the growth of India’s semiconductor ecosystem in manufacturing, packaging, and design.
It is the nodal agency for implementing the Semicon India Programme schemes.
It covers semiconductor fabrication, display fabrication, assembly, testing, packaging, and design.
It is a part of the ₹76,000 crore semiconductor incentive package.
Its objectives include:
Provide financial incentives for semiconductor units.
Support R&D and skill development in semiconductor technology.
Facilitate collaborations with global semiconductor firms.
It aims to reduce import dependency, ensures supply chain resilience, supports electronics manufacturing, and enhances India’s role in emerging technologies like AI, IoT, and EVs.