India, Feb. 1 -- Finance Minister Nirmala Sitharaman on Sunday announced the Indian Semiconductor Mission (ISM) 2.0 to expand the country's semiconductor capabilities. She said that under the mission, India would produce equipment and material and fortify supply chains.

Besides, the finance minister also announced plans to give a boost to the government's rare earths scheme. The government would support mineral-rich states like Andhra Pradesh, Kerala and Odisha to develop dedicated rare earth corridors.

The move aims to promote mining, research, processing and manufacturing, she said. To expand India's rare earths capacity, she also proposed to establish high-tech tool rooms by central public sector enterprises at two locations.

She sa...