Indian Cabinet approves Semicon 2.0 with a budget of Rs 1.27 lakh crore

India's Union Cabinet has given the green light to Semicon 2.0, a grand initiative worth Rs 1.27 lakh crore (USD 13.17 billion) aimed at boosting the country's semiconductor manufacturing sector. This move underscores the government's commitment to reducing dependence on foreign semiconductor imports and fostering local tech industry growth. With the global chip shortage in mind, this ambitious plan could potentially transform India into a semiconductor manufacturing hub, driving economic growth and creating numerous high-skilled jobs.