Union Cabinet clears Rs 1.9 lakh crore push for chips, mobile phones
Union Cabinet approved Semicon 2.0 scheme with Rs 1,27,500 crore outlay to boost semiconductor fabrication, advanced packaging, materials, and chip design.
Cabinet also cleared the Mobile Phone Manufacturing Scheme (MPMS) with Rs 62,500 crore budget, shifting focus from assembly to localisation and Indian IP.
Both schemes run for five years from 2026-27 to 2029-30, targeting deeper domestic value addition and reduced import dependence.
Government aims to build a $500 billion electronics manufacturing industry by 2030-31.
Indian brands doing design and R&D will get an additional 3% incentive under MPMS.
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