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Union Budget 2026: FM Sitharaman Unveils ‘India Semiconductor Mission 2.0’

While presenting the Union Budget 2026, Finance Minister Nirmala Sitharaman announced the rollout of India Semiconductor Mission (ISM) 2.0 with a total outlay of Rs 40,000 crore. The new phase aims to build on the progress made earlier and speed up the expansion of India’s semiconductor industry.

She said the initial phase of the mission helped strengthen the country’s semiconductor base, while ISM 2.0 will now focus on manufacturing equipment and materials, enabling end-to-end chip design, developing indigenous intellectual property, and strengthening supply chains.

The mission will also promote industry-driven research and training centres to boost innovation and create a strong pool of skilled professionals for the sector.

Alongside this, the Finance Minister introduced the ‘Shakti’ initiative, committing Rs 10,000 crore over five years to further strengthen and support India’s overall semiconductor ecosystem.