India Semiconductor Mission (ISM) 2.0 tenure likely extension to 12 years

Exam-focused facts from the 21 May 2026 current affairs briefing.

Key facts

The government is considering extending the tenure of the second phase of the India Semiconductor Mission (ISM) to 12 years.
The current tenure of the ISM is five years.
The extension is intended to strengthen domestic chip manufacturing and supply chains.
The mission aims to develop domestic Micro, Small and Medium Enterprises (MSMEs) as suppliers for the world's largest semiconductor companies.
The extended timeline for incentives is designed to align with the longer gestation periods and handholding required for companies supplying raw materials to chip manufacturing and packaging units.