A credible semiconductor ecosystem is pivotal for India's economic security as much as for national security. Analyse the strategic objectives, incentives, and institutional architecture of the India Semiconductor Mission (ISM). Identify the major risks that could derail its timelines. (Answer in 250 words)

Indian Semiconductor Mission ISM was undertaken to foster development of Semiconductor chips and generate indigenous technologies in science and new technology. Strategic objectives: (1) Indigenous development eg National Supercomputation Mission, (2) New age technology eg Bharatgem(A1), (3) Realise import dependency eg reducing trade deficit, (4) Diversify supply chain - away from China eg ICET

Incentives: (1) Producer linked incentives eg for semiconductor chips, (2) Designer linked incentives for designing new age chips eg Nano chips, (3) Promote innovation eg funding under ANRF, (4) Relaxed tariff norms - for import of raw materials for exports of finished products, Institutional architecture: (1) Ministry under government, (2) State government - for monitoring & providing land and logistics, (3) Promoting innovation eg by new research under Department of Biotechnology, (4) 8 Universities eg IIT's for promotion of research, (5) Centres - for building expert competency, Lack of funding, Lack of infrastructure, Lack of capacity building, Thus, need is for investment in skill building in STEM fields for better research by international collaboration