- The India government has announced a plan to take stakes in chip startups under ISM 2.0, marking a significant shift in its semiconductor strategy.
- Under ISM 2.0, the government will co-invest alongside venture capital funds and aims to exit as companies scale, according to ISM CEO Amitesh Kumar Sinha.
- Wipro reported a net profit of ₹3,352 crore for Q1FY27, missing all estimates and experiencing a decline in operating margins.
- Tech Mahindra experienced a 28% rise in net profit for Q1FY27, but still missed estimates despite revenue growth exceeding analyst projections.
- Bengaluru police have introduced mandatory counselling for gig workers caught violating traffic rules, requiring them to attend a four-hour session.
- ISM 2.0, with an outlay of about ₹1.27 lakh crore, represents the broadest expansion of India's semiconductor ambitions to date.
- The initiative aims to solve access to growth capital for semiconductor startups, as stated by ISM CEO Amitesh Kumar Sinha.
- Bengaluru's initiative for gig workers follows a spike in traffic violations, with around 4,000 violations recorded in just three days.
India's semiconductor strategy is evolving with the government set to take equity stakes in startups under ISM 2.0, which has an outlay of Rs 1.27 lakh crore. The initiative aims to co-invest alongside venture capital funds, providing crucial growth capital for semiconductor startups.2
According to ISM CEO Amitesh Kumar Sinha, the government will match private VC investments from seed to later funding rounds, investing on the same commercial terms as private investors without seeking board seats or operational control. This marks a significant shift from previous support methods that primarily relied on incentives.
In the tech sector, Wipro reported a net profit of Rs 3,352 crore, missing all estimates, while Tech Mahindra saw a 28% rise in net profit but still fell short of expectations. Wipro's operating margins declined, with total bookings down 2.4% sequentially to $3.37 billion. In contrast, Tech Mahindra's revenue growth exceeded analyst projections, reaching over Rs 15,700 crore, with a 60 basis point sequential improvement in operating margins at 14.4%.34567
“The government will match private VC investments on equal terms without seeking board seats, under a ₹1.27 lakh crore outlay. Separately, Bengaluru police mandated four-hour counselling for gig workers after 4,000 traffic violations in three days.”
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