Govt approves major funding for semiconductor and mobile manufacturing
The Union Cabinet approved significant funding for India's semiconductor and mobile manufacturing sectors. The Semicon 2.0 programme received an outlay of ₹1.27 lakh crore, aiming to build a resilient ecosystem by focusing on design, fabrication, and R&D. Concurrently, the Mobile Phone Manufacturing Scheme (MPMS) was approved with ₹62,500 crore to boost domestic mobile production and exports. This combined package represents a total outlay of approximately ₹2.19 lakh crore, with expectations of attracting substantial investment and increasing chip exports.
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