Semicon 2.0, MPMS May Generate Over 3.6 Lakh Jobs

IESA said that Phase 1 had already helped secure more than $20 billion in announced semiconductor projects and that Phase 2’s greater emphasis on fabs, advanced packaging, design, R&D, talent, equipment and materials aims to make India a trusted global partner.

"With several OSAT projects already under implementation and entering production, Phase 2 rightly places greater emphasis on semiconductor fabs, while continuing strong support for advanced packaging, thereby creating a balanced and future-ready semiconductor ecosystem," the statement said.

"SEMICON 2.0 marks a decisive step in India's journey from policy intent to execution at scale. Phase 1 established India's credibility and phase 2 will build long-term capability," said Ashok Chandak, President, IESA and SEMI India.

With worldwide semiconductor manufacturing equipment spending expected to grow to nearly $230 billion by 2028, the policy positions India to capture the next wave of global investments in semiconductor manufacturing, advanced packaging, equipment and materials, Chandak added.

Pankaj Mohindroo, Chairman, ICEA, welcomed policy continuity and said ISM 2.0’s focus on design, R&D, capital goods and skills will help India become a skill capital for the semiconductor industry.

“ISM 2.0 can bring together manufacturing, supply chain, innovation and human capital to build a globally competitive semiconductor ecosystem,” he said.

"The approval of the Mobile Phone Manufacturing Scheme (MPMS) is a landmark policy intervention that will build on the success of the PLI programme and accelerate India's transition from a mobile assembly hub to a globally competitive manufacturing and innovation powerhouse," said Ashok Gupta, Chairman, Optiemus Electronics Limited (OEL).

It provides long-term policy certainty for fresh investments, and fosters indigenous technology development, thus positioning India as a preferred global destination for advanced mobile phone manufacturing, Gupta added.