India bets big on semiconductor industry

The Union Cabinet on Wednesday approved an outlay of Rs 1.27 lakh crore for the second phase of the India Semiconductor Mission (ISM), Union IT Minister Ashwini Vaishnaw said. The government expects the Semicon 2.0 programme to attract investments of around Rs 4 lakh crore and generate semiconductor production worth Rs 2 lakh crore over the scheme period. An official statement said the Cabinet, chaired by Prime Minister Narendra Modi, approved the revamped programme to strengthen India's semicon