By Gitika Sharma
LIVE | Union Budget 2026: Finance Minister Nirmala Sitharaman while presenting the Union Budget 2026 launched the India Semiconductor Mission 2.0 (ISM 2.0) while presenting the Union Budget 2026–27, with an enhanced ₹40,000 crore outlay to capitalise on the momentum of the government’s semiconductor push. ISM 2.0 will build on the progress of the first phase and prioritise the production of semiconductor equipments and materials,along with designing full‑stack Indian IP (intellectual property), and strengthening supply chains, alongside a focus on industry‑led research and training centres to develop technology and skilled workforce. ISM 2.0 aims at lessening dependency on imports, attracting foreign direct investment in the semiconductor industry, and positioning India as a competitive centre for chip and electronics manufacturing, vital for sectors such as consumer electronics, automobiles, defense systems, telecommunication and renewables. This new strategic initiative is an expansion from the original India Semiconductor Mission initiated in 2022–23 and is consistent with our overarching strategy of self-reliance and future technology development in India.
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