India’s government approved 1.9 trillion rupees (approximately $19.7 billion) in incentives for domestic semiconductor and smartphone manufacturing.
The Semicon 2.0 program receives $13.3 billion to expand chip production.
The new Mobile Phone Manufacturing Scheme (MPMS) receives $6.5 billion in funding.
This policy aims to establish India as a global electronics hub and a supply chain alternative to China.
These schemes build on previous incentives that attracted investments from major firms like Foxconn and Micron.