Story perspectives

Modi Launches INR1.27 Lakh Crore Semiconductor Mission 2.0

By Drooid · Sep 19, 2026, 6:02 AM UTC · How we work

Summary

Modi Launches Semiconductor Mission

Prime Minister Narendra Modi inaugurated SEMICON India 2026, highlighting India's expanding semiconductor ecosystem.
Government launched Semiconductor Mission 2.0 with a INR1.27 lakh crore ($13.5 billion) outlay.
Twelve chip projects were approved, resulting in five, including Micron, Kaynes and CG Semi, entering commercial production.
Applied Materials pledged $5 billion for India Vision 2035, planning a 140-acre research park.
Lam Research committed Rs 10,000 crore to build India’s first silicon component manufacturing plant.

Summary

BRICS Adopt Declaration

BRICS leaders unanimously adopted the New Delhi Declaration at the September 12-13 summit hosted by India.
Japan’s credit rating agency upgraded India’s sovereign rating, the first upgrade in 35 years.
Modi linked India’s semiconductor push to building resilient global supply chains amid “weaponised” dynamics.
The summit highlighted 3,000 km of dedicated freight corridors becoming fully operational.
Modi cited the Global Fintech Fest’s focus on AI, tokenisation and quantum tech as tech momentum.

Summary

Gerards Highlights Geopolitics

Netherlands Ambassador Marisa Gerards said SEMICON India has geopolitical significance and praised the strategic partnership at the SEMICON India conference.
The Startup Pavilion showcased about 40 startups, with 20 securing venture funding of roughly Rs 800 crore during the event.
A dedicated forum highlighted women’s leadership in the semiconductor sector during parallel sessions, drawing industry attention.

History

Historical Context

In 1991, PM P.V. Narasimha Rao and Finance Minister Manmohan Singh began liberalisation after a balance-of-payments crisis left reserves covering less than three weeks of imports. The reforms abolished the Licence Raj, opened most industries to foreign direct investment and sparked growth in technology and manufacturing. In 2023, Prime Minister Narendra Modi launched Semiconductor Mission 2.0 to attract chip investors, echoing the 1991 liberalisation drive.

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Modi Launches Semiconductor Mission

Prime Minister Narendra Modi inaugurated SEMICON India 2026, highlighting India's expanding semiconductor ecosystem.
Government launched Semiconductor Mission 2.0 with a INR1.27 lakh crore ($13.5 billion) outlay.
Twelve chip projects were approved, resulting in five, including Micron, Kaynes and CG Semi, entering commercial production.
Applied Materials pledged $5 billion for India Vision 2035, planning a 140-acre research park.
Lam Research committed Rs 10,000 crore to build India’s first silicon component manufacturing plant.

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