India launches semiconductor mission with $5 billion funding to boost domestic production and reduce import reliance.

India has launched India Semiconductor Mission 2.0 with a ₹40,000 crore allocation in the 2026 Union Budget to boost domestic production of semiconductors, equipment, and materials, strengthen supply chains, and develop indigenous intellectual property. The initiative aims to reduce reliance on imports, support industry-led research and training, and build a skilled workforce. Additional funding supports electronics manufacturing, rare earth mineral corridors, and precision component production, reflecting a broader push for technological self-reliance and industrial growth.