The Union cabinet on Wednesday approved two major manufacturing initiatives with a combined outlay of nearly Rs 1.9 lakh crore (USD 22 billion) to expand India’s semiconductor ecosystem, scale up mobile phone production and strengthen its position as a global electronics manufacturing hub. The government approved the Rs 1.27 lakh crore Semicon 2.0 programme to accelerate semiconductor design and manufacturing capabilities, alongside the Rs 62,500 crore Mobile Phone Manufacturing Scheme (MPMS) aimed at increasing domestic production, boosting exports and deepening local value addition in the mobile phone industry. The semiconductor programme builds on the first phase of the India Semiconductor Mission and will focus on six key areas – chip design, semiconductor equipment and materials, fabrication facilities, advanced packaging and testing, research and development, and talent development.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Jul 15 2026 | 6:31 PM IST
