India Semiconductor Mission enters its hardest phase

Semiconductors sit at the centre of modern industry. India’s ambition to build domestic capability in this sector is not a vanity project. It is a strategic necessity. Four years after the launch of the ₹76,000 crore India Semiconductor Mission, the government has moved to the next phase. ISM 2.0, announced in the Union Budget 2026–27, is meant to shift the programme from attracting fabs and packaging plants to building equipment, materials, design intellectual property and supply-chain depth.