New Delhi: Prime Minister Narendra Modi on Wednesday welcomed the Union Cabinet’s approval of the Semicon 2.0 programme with an outlay of Rs 1.27 lakh crore, aimed at making India a global hub for semiconductor design, manufacturing and innovation.
In a post on X, PM Modi said, “India’s semiconductor journey gets even more vibrant.”
India’s semiconductor journey gets even more vibrant!
The Cabinet has approved Semicon 2.0 with an outlay of Rs. 1,27,500 crore, reaffirming our long-term commitment to making India a global centre for semiconductor design, manufacturing and innovation. Powered by our youth,…
— Narendra Modi (@narendramodi) July 15, 2026
He added, “The Cabinet has approved Semicon 2.0 with an outlay of Rs 1,27,500 crore, reaffirming our long-term commitment to making India a global centre for semiconductor design, manufacturing and innovation. Powered by our youth, Semicon 2.0 will strengthen every aspect of the semiconductor ecosystem. Semicon 2.0 will attract greater investment, create high-value opportunities for our youth, strengthen supply chains and advance technological self-reliance in critical sectors.”
According to the Centre, Semicon 2.0 is based on six pillars—chip design, manufacturing, fabrication plants (fabs), research, strengthening the ATMP/OSAT industry, and talent development. The programme also aims to encourage semiconductor-related manufacturing, research and development, and attract more chip fabrication units to India.
The Prime Minister also praised the Cabinet’s approval of railway multitracking projects, including the doubling of the Paradeep-Haridaspur line and the fourth line between Rajkharsawan and Dangoaposi.
A major boost to connectivity and economic growth in Odisha and Jharkhand!
The Cabinet has approved two important railway multitracking projects, the doubling of the Paradeep-Haridaspur line and the fourth line between Rajkharsawan and Dangoaposi. These projects will further…
— Narendra Modi (@narendramodi) July 15, 2026
He wrote, “A major boost to connectivity and economic growth in Odisha and Jharkhand! The Cabinet has approved two important railway multitracking projects, the doubling of the Paradeep-Haridaspur line and the fourth line between Rajkharsawan and Dangoaposi. These projects will further growth in Odisha and Jharkhand. They will expand the railway network, ease congestion and boost tourism.”
The government also approved a 6/4-lane elevated corridor along the Varuna River and a six-lane corridor along the Ganga in Varanasi.
PM Modi said, “We are resolute in making darshan of Baba Vishwanath in Varanasi even more accessible and convenient with the expansion of connectivity in Uttar Pradesh. In this direction, today our government has approved the construction of a 6/4-lane elevated corridor along the banks of the Varuna River. This project will not only serve as a model for our cities of cultural importance, but will also make the lives of people here easier through infrastructure development.”
He added, “We are committed to the development of world-class infrastructure in Kashi. In line with this, today we have approved the construction of a state-of-the-art 6-lane corridor along the banks of the Ganga. This will further improve access to the city’s major religious, educational, and cultural sites. At the same time, the reduced pressure on the road network will make commuting even smoother. This project will accelerate economic development in Purvanchal.”
The Prime Minister also welcomed the approval of the National Urea Investment Policy-2026.
He wrote, “Our government is leaving no stone unturned for the welfare of our farmer brothers and sisters across the country. In this direction, today the proposal for the National Urea Investment Policy-2026 has been approved. This will not only encourage investment for the establishment of new gas-based urea production plants, but will also give new strength to the resolve for self-reliance in urea production.”
According to the Ministry of Chemicals and Fertilizers, the policy introduces measures including the separation of fixed and variable costs, a Return on Equity (RoE) band of 12–16 per cent, and mitigation of foreign exchange risk. These changes are expected to save over Rs 250 crore for each plant established under the new policy compared to NIP-2012.
