India Attracts $12 Billion for Semiconductor Mission 2.0

Ashwini Vaishnaw, the Union Minister for Electronics and Information Technology, announced that the second phase of the India Semiconductor Mission (ISM 2.0) has attracted nearly $12 billion in investment interest. Several chip companies are expected to announce and execute these investments within the next six months, with additional funding planned over the following two to three years.

The mission expands the scope of India's semiconductor strategy beyond chip fabrication to include semiconductor equipment, materials, gases, chemicals, packaging, substrates, design, and research and development. The Government of India has committed approximately $23.5 billion across the first two phases of the mission, which previously included approval for a fabrication facility by Tata Limited.

Alongside the semiconductor push, Minister Vaishnaw is consulting with technology companies and AI developers to create a techno-legal framework for artificial intelligence. He emphasized that AI companies must prioritize safety and integrate safeguards directly into their models to mitigate risks as systems become increasingly capable.