Government to Launch Expanded Semiconductor Policy, Semicon 2.0, in Coming Months

Union Minister Ashwini Vaishnaw announced the upcoming launch of Semicon 2.0, the second phase of the semiconductor policy, within 3-4 months. Multiple states are attracting investments in semiconductor plants, with projects worth Rs 1.5 lakh crore already approved. The policy aims to build a comprehensive semiconductor ecosystem in India.

Union Minister Ashwini Vaishnaw announced that the government is set to introduce Semicon 2.0, the second phase of its semiconductor policy, within the next 3-4 months. The announcement was made at Semicon India 2024, where Vaishnaw highlighted that 3-4 states have successfully attracted investments in semiconductor projects, including a new unit in Uttar Pradesh.

He mentioned that the initial phase of the semiconductor project is nearing completion and that Semicon 2.0 will significantly expand on its predecessor. The policy is expected to support the entire semiconductor ecosystem, including fab units, ATMP, and specialised chemicals and gases, which are crucial for semiconductor production.

Additionally, Vaishnaw revealed that five projects with a total investment value of Rs 1.5 lakh crore have been approved, with construction already underway for two plants. A chip manufacturing project in Maharashtra, a joint venture between the Adani Group and Israel’s Tower Semiconductor, is also awaiting central approval for subsidies.