Finance Minister Nirmala Sitharaman on Sunday announced a boost to domestic manufacturing under Make in India by raising the outlay for electronics component production to Rs 40,000 crore and launching the India Semiconductor Mission (ISM) 2.0. The move aims to strengthen local production, innovation, and supply chains.

Building on the success of ISM 1.0, the second phase will focus on producing equipment and materials, developing full-stack Indian intellectual property, and enhancing the semiconductor ecosystem, news agency IANS reported. Sitharaman also highlighted plans for industry-led research and training centres to develop advanced technology and a skilled workforce. The Electronics Components Manufacturing Scheme, launched in April 2025 with an initial outlay of Rs 22,999 crore, has already attracted investments exceeding twice its target.