Indian Semiconductor Mission likely to receive second budget allotment worth $10 billion

The government will reportedly allot a second budget of up to $ 10 billion to Indian Semiconductor Mission (ISM). The mission may require this funding if the government approves the semiconductor manufacturing project to be jointly set up by Tower Semiconductor and the Adani Group.

The government will have to seek fresh funding under ISM as it has almost exhausted the funds in the first phase with approvals of $11 billion. Meanwhile, there are several other proposals under consideration including ones focused on assembly of semiconductor chips.