India, Feb. 1 -- Union finance minister Nirmala Sitharaman on Sunday announced a major expansion of incentives under the Electronics Component Manufacturing Scheme (ECMS) and unveiled the next phase of India's semiconductor push with the launch of India Semiconductor Mission (ISM) 2.0. Both schemes are run by the Ministry of Electronics and Information Technology (MeitY).

In her Budget speech, the finance minister announced a sharp increase in funding for ECMS to Rs.40,000 crore. The scheme was launched in April 2025 with an outlay of Rs.22,919 crore.

Sitharaman said the scheme has already attracted investments at more than double the initial target.

MeitY minister Ashwini Vaishnaw has previously said that the scheme, with 249 applicat...