India Set to Approve New Semiconductor Projects Under ISM
The Indian government is close to approving a fresh round of semiconductor projects under the India Semiconductor Mission (ISM), marking a significant step toward strengthening the country’s chip manufacturing capabilities. The upcoming approvals are expected to further India’s ambition of reducing reliance on foreign semiconductor imports and enhancing domestic production.
Next Phase of Semiconductor Approvals
Several semiconductor projects are under active consideration for approval, involving both domestic and international players. These projects are part of the ISM’s broader objective to establish India as a global hub for semiconductor manufacturing. The initiative is aimed at addressing supply chain vulnerabilities and ensuring India’s self-sufficiency in chip production.
ISM Funding and Future Expansion
The government had initially allocated ₹76,000 crore for semiconductor manufacturing under ISM. With around ₹4,600-4,700 crore remaining, these funds are expected to be utilized for the upcoming approvals. Following the allocation of this remaining budget, the government plans to launch ISM 2.0, which will invite new proposals for semiconductor projects and further investment in the sector.
Growing Semiconductor Ecosystem in India
India has made significant progress in semiconductor manufacturing in recent years, with major companies setting up new units across the country. Recently approved projects include a semiconductor fabrication plant in Dholera, Gujarat, and another in Morigaon, Assam. These facilities are expected to boost India’s semiconductor ecosystem, create jobs, and enhance technological capabilities.
Strengthening India’s Position in the Global Semiconductor Market
The upcoming approvals reinforce India’s commitment to becoming a key player in the global semiconductor industry. With ISM 2.0 on the horizon, the country is expected to attract greater foreign and domestic investment, positioning itself as a reliable semiconductor manufacturing hub in the long run. The government’s proactive approach highlights its dedication to building a robust semiconductor supply chain and driving technological innovation.
