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.

India semiconductor mission Provides strategic semiconductor ecosystem to make India as pivotal player in entire supply chain of semiconductor. ISM Objectives: - Sustainable supply chain ecosystem - Encouraging semicoy production - More focus on ATMIA and OSAT ecosystem - Public-private partnership - International collaboration (India-Taiwan-Israel partnership) - Global supply chain integration

Incentives: (1) India Semiconductor Project - PSECO offer full package (2) Assembly Fab, Testing - manufacturing and packaging facility (3) Credit and capital incentives to set up fabrication plant (4) Land and EC - care of during process (5) Plug and play model Institutional architecture under ISM: (1) Business Semiconductor division - act as nodal agency for approval of process (2) Single window agency mechanism (3) Nodal body to collaborate with state govts (4) Monitoring and auditing mechanism Significance of semiconductor: (1) Need for electronics industry

Significance of semiconductor continued: (2) Economic security - import dependency reduction strategic - huge significance in industrial and geo-strategic (3) National security - semiconductor sovereignty - added value chain integrity Major risk: (1) Costly and capital intensive process - $3-7 billion per fabrication plant (2) Weaponization of new materials by China (3) Import dependency for raw material and China's dominant market (4) PCSS integration with global supply chain (5) Moore's Law - complex manufacturing process (6) Uninterrupted supply for power and water PM Modi said, India aspires to become "global hub for semiconductor and ESIM", require dedicated-timely implementation of NISM.