India, Sept. 2 -- Prime Minister Narendra Modi on Tuesday set the stage for the India Semiconductor Mission (ISM) 2.0, saying the new phase will usher in "next-generation reforms" with policies that reflect long-term commitments rather than short-term signals.

"The design is ready, the mask is aligned, and it's time to execute with precision and scale. It won't be long before chips are designed in India, made in India, and trusted by the world," Modi told industry leaders at Semicon India 2025, urging global investors to join India's semiconductor journey.

A government official told HT that the next phase of ISM is likely to include display fabs as a key area of focus.

The global semiconductor market is currently valued at $600 billion...