India Semiconductor Mission 2.0 gets Rs 1,000 crore budget allocation, to boost domestic chip manufacturing

The Union Budget 2026-27 marked a decisive moment for India’s technology ambitions with the announcement of India Semiconductor Mission 2.0.The new phase signals a clear policy push to deepen domestic semiconductor capabilities, as chips underpin every critical digital and industrial system. ISM 2.0 will focus on producing semiconductor equipment and materials in India, designing full-stack Indian semiconductor intellectual property, and fortifying both domestic and global supply chains.A provision of Rs. 1,000 crore has been made for ISM 2.0 for FY 2026-27, with a strong emphasis on industry-led research and training centres to drive technology development and create a future-ready skilled workforce.