Modi Cabinet Approves MPMS and Semicon 2.0 for Electronics & Semiconductor Boom
UPSC / SSC current affairs note · Economy
Why in news
The Union Cabinet has approved two major schemes—MPMS and Semicon 2.0—to boost electronics manufacturing and semiconductor production in India. This move aims to position India as a global hub for electronics and chip manufacturing, targeting a Rs 40 lakh crore industry.
Background
India has been pushing for self-reliance in electronics and semiconductors, with earlier schemes like PLI for electronics and the first Semicon India program. The new schemes build on these efforts to attract investment and reduce import dependence.
Key facts
Union Cabinet approved MPMS (Modified Programme for Manufacturing of Electronics) and Semicon 2.0 schemes.
Target: Rs 40 lakh crore electronics manufacturing boom.
MPMS aims to boost electronics manufacturing, including mobile phones, IT hardware, and components.
Semicon 2.0 focuses on semiconductor fabrication, packaging, and design.
Schemes include financial incentives, infrastructure support, and R&D promotion.
Expected to create millions of jobs and reduce import dependency.
Part of government's push for 'Atmanirbhar Bharat' in electronics.
Prelims pointers
- MPMS: Modified Programme for Manufacturing of Electronics
- Semicon 2.0: Semiconductor scheme
- Union Cabinet approval
- Target: Rs 40 lakh crore
- Atmanirbhar Bharat initiative
Mains angles
- GS3: Role of government schemes in boosting electronics manufacturing and semiconductor ecosystem.
- GS3: Impact on employment, trade deficit, and technological self-reliance.
- GS2: Government policies and interventions for industrial development.