UNion finance government minister Nirmala Sitharaman on sun proclaimed a john r. Major elaboration of incentives under the Electronics Component Manufacturing Scheme (ECMS) and unveiled the next phase of India’s semiconductor push with the launch of India Semiconductor Mission (ISM) 2.0. Both schemes are run by the Ministry of Electronics and Information Technology (MeitY).In her Budget speech, the finance minister announced a sharp increase in funding for ECMS to ₹40,000 crore. The scheme was launched in April 2025 with an outlay of ₹22,919 crore.Sitharaman said the scheme has already attracted investments at more than double the initial target.Also read:Budget 2026: ₹5,000 crore to develop CER around temple towns, tier-2, 3 citiesMeitY minister Ashwini Vaishnaw has previously said that the scheme, with 249 applications, had drawn investments of over ₹1.15 lakh crore—nearly double the government’s initial target of ₹59,350 crore. The total number of approved projects under the scheme currently stands at 46, with cumulative investments of ₹54,567 crore, projected production of ₹3,67,669 crore, and a promise of over 50,000 direct jobs.The ECMS was notified in April 2025 with a budget outlay of ₹22,919 crore for six years, with projected production worth ₹10.34 lakh crore and potential employment generation for 1.42 lakh people, according to the government.The scheme is building the foundation for a $500 billion electronics manufacturing ecosystem by 2030–31, powering technology sovereignty and global trust in India.Also Read:India to host 1st Big Cat Summit of heads of 95 countries in 2026: SitharamanAnnouncing the scaling up of manufacturing in seven strategic and frontier sectors, Sitharaman said, “India Semiconductor Mission 1.0 expanded India’s semiconductor sector capabilities. Building on this, we will launch ISM 2.0 to produce equipment and materials, design full-stack India IP, and fortify supply chains. We will also focus on industry-led research and training centres to develop technology and skilled workforce.”The MeitY minister had recently said that the government plans to support at least 50 fabless chip companies under ISM 2.0 by scaling up the Design Linked Incentive (DLI) Scheme, with the long-term goal of producing “one AMD” and “one Qualcomm” out of the country.Also Read:Gross GST revenue saw 6.2% annualized growth to over ₹1.93 lakh cr in Jan 2026 ISM 2.0 is expected to be announced in three months after the government finalises its structure, including funding, incentives for fabless startups, a sharper focus on advanced design, and a roadmap to achieve 3-nanometre and 2-nanometre technology nodes.ISM 1.0, announced in late 2021 with a financial outlay of ₹76,000 crore, has approved a total of 10 semiconductor projects spread across six states, with four expected to begin chip production this year. The projects cover fabs, advanced packaging, OSAT/ATMP units, and related facilities. These approved projects collectively represent investment commitments of around ₹1.60 lakh crore.
Global News Perspectives
In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.
Customizable News Feed
At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.
Like or Comment on News
Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.
Download the Android App
For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.
Diverse News Categories
With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.
No comments yet.