Union Cabinet clears Rs 1.9 lakh crore push for chips, mobile phones

The Union Cabinet approved two schemes totaling Rs 1.9 lakh crore for electronics manufacturing. These initiatives aim to boost semiconductor fabrication and mobile phone production significantly. The government plans to deepen domestic value addition and reduce import dependence. These schemes will run for five years starting from 2026-27. India targets a $500 billion electronics manufacturing industry by 2030-31.