economy
Cabinet clears Rs 1.9 Lakh crore push for chip, mobile phone manufacturing
The Union Cabinet approved significant new schemes for semiconductor and mobile phone manufacturing. The India Semiconductor Mission's second phase will receive ₹1.27 lakh crore for development. A new ₹62,500 crore scheme will boost mobile phone production and domestic sourcing.
Context
The Union Cabinet has approved a comprehensive financial push of ₹1.9 lakh crore to boost semiconductor and mobile phone manufacturing in India. This includes the launch of the (ISM) 2.0 and a new (MPMS), succeeding the previous (PLI) scheme for mobile phones. The initiatives aim to deepen domestic value addition, foster an indigenous design ecosystem, and position India as a global electronics manufacturing hub.
Exam Perspectives
Key References
AI-generated study notes · sourced from Economic Times