The Indian government 's fiscal support program for chip development and manufacturing, the India Semiconductor Mission (ISM), is all set for Cabinet approval. The ISM 2.0 is being seen as an extension of this incentive program to promote chip design and fabrication in India. Project expansion ISM 2.0: A continuation of Phase 1's success Phase 1 of the ISM was approved in 2021 with an allocation of ₹76,000 crore. It has so far approved a total of 10 semiconductor projects, including fabs, display fabs, compound semiconductors, and Assembly Testing Marking and Packaging (ATMP) facilities. After MeitY's approval, ISM 2.0 will need clearance from the Finance Ministry for proposed expenditures and funding arrangements.