Electronics and IT Secretary S. Krishnan stated that the Center is getting set to start the second phase of the India Semiconductor Mission (ISM), with nearly all of the funding for the first phase now provided.
Speaking at Semicon India 2025 in New Delhi, Krishnan stated that just “two to three straggling projects” were still pending finalization, indicating that financing for ISM 1.0 was mostly committed.
“We are in the final stages of preparing ISM 2.0, which will soon be placed in the public domain,” he stated.
The Secretary stated that almost $30 billion in fiscal support is expected to be provided by the federal and state governments to strengthen the semiconductor sector.
He highlighted the benefits of India, pointing out that the country employs more than 20% of the world’s semiconductor design engineers and produces over 1.1 million STEM graduates annually.
He also mentioned the rapid expansion of the mobile phone industry and the growing importance of chips in space and defense as justifications for foreign companies to work with India.
At the launch of “Semicon India 2025” earlier in the day, Prime Minister Narendra Modi declared that the world now has faith in India and is prepared to work with it to shape the semiconductor industry’s future. He also mentioned that the government will shortly begin the next wave of reforms in the semiconductor sector.
India is expected to play a crucial role in the trillion-dollar semiconductor industry, PM Modi said, highlighting the nation’s expanding presence in the global chip market.
“Investments of $18 billion are being made in 10 semiconductor projects approved since 2021,” he stated.
“The world believes in India, the world trusts India, and the world is ready to build the semiconductor future with India,” the prime minister said, adding that although oil influenced the previous century, chips will shape the future.
The prime minister noted that India will play a significant role in the global semiconductor sector, which is now valued at $600 billion and is expected to surpass $1 trillion in the near future.