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.

Semiconductors are substances having electrical conductivity between that of conductors & insulators. Examples include silicon, gallium arsenide etc. Importance of credible Semiconductor Ecosystem: Economic Security: (1) Currently 100% import reliant on chips (2) Semiconductor chips are crucial for electronics industry National Security: (1) They are a dual use technology > use in drone weapons, missile systems etc. (2) Over 70% of global production in just 5 countries > supply chain risks (3) Export controls on high-tech chips

Over 70% of global production in just 5 countries > supply chain risks. Export controls on high-tech chips. ISM Strategic objectives: (1) Domestic production of 28-90nm chips by 2025 (2) Setting up of Chip fabrication units in India (3) MICRQN in Gujarat (4) Capture 10% of market share ($1 trillion) by 2030. Incentives: (1) Incentives based on incremental sales via PLI scheme (2) Incentives for indigenous development & innovation > Design Linked incentive Scheme. Over Rs. 76000 crores under Semicon india mission. Institutional Architecture: (1) Merit to promote indigenous innovation & production (2) Min of commerce to bring in FDI. Major Risks: (1) High costs of Chip fabs = $7-10 billion each (2) Reliance on China for import of critical minerals (3) Limited availability of skilled labor (4) Low R&D spending (0.7% GDP).

Development & innovation > Design linked incentive Scheme. Over Rs. 76000 crores under Semicon India mission. Institutional Architecture: (1) Merit to promote indigenous innovation & production (2) Min of commerce to bring in FDI. Major Risks: (1) High costs of Chip fabs = $7-10 billion each (2) Reliance on China for import of critical minerals (3) Limited availability of skilled labor (4) Low R&D spending (0.7% GDP). The ISM can help achieve vision of Atmanirbhar Bharat & establish India as knowledge superpower.