Chip plan worth Rs 1 lakh crore, mobiles will no longer be expensive, a big step by the government

Semiconductor Mission 2.0: The Central Government is preparing to launch Bharat Semiconductor Mission 2.0 to give new strength to the semiconductor industry in the country. Under this ambitious plan, a huge investment of about Rs 1 lakh crore to Rs 1.2 lakh crore is proposed. It is believed that this scheme can be implemented from May, due to which India can reach new heights in the field of technology.

Bigger and more powerful plan than before

This new mission is being made much bigger and more effective than the first phase. While there was a provision of Rs 76,000 crore in the first phase, now the government wants to expand it on a large scale. The Ministry of Electronics and Information Technology is busy finalizing this scheme and is waiting for approval from the Finance Ministry.

Focus on the entire industry, not just chips

The special thing about Mission 2.0 is that the government no longer wants to be limited to only chip manufacturing and design. Equipment, raw materials and necessary components will also be included in this scheme. This means that now the focus will be on strengthening the entire supply chain, so that India can become self-reliant in this sector.

India’s big step amid global challenges

This step of India is being considered very important amidst the supply chain problems and increasing geopolitical uncertainties across the world. The government aims to increase intellectual property (IP) capacity in the country and achieve self-reliance in technology.

MSME and local companies will get a big opportunity

Gas suppliers, specialty chemical companies, micro, small and medium industries (MSME) and other supporting units will play an important role in the new scheme. This will not only benefit big industries, but will also provide new opportunities to small businessmen and startups.

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There will be a boom in the design sector

In the second phase of the mission, the design related incentive scheme will also be redesigned. Under this, foreign companies can be allowed to do research and development (R&D) in collaboration with Indian companies. This will promote technological innovation and about 50 new design based companies are expected to emerge in the coming time.

Success has been achieved in the first phase also

Under the first phase, 10 projects have been approved in 6 states of the country at a cost of approximately Rs 1.6 lakh crore. These include chip manufacturing, testing and packaging units, due to which the semiconductor ecosystem in India is growing rapidly.