Stable policy push for ISM 2.0; Wipro misses Q1 estimates
The Indian government is prioritizing policy stability over subsidies to drive the $13-billion ISM 2.0 semiconductor initiative, focusing on building a comprehensive chip ecosystem. The Ministry of Electronics and Information Technology (MeitY) plans to take minority stakes in semiconductor startups, matching private investments, while cutting packaging subsidies. In related news, Wipro reported a flat profit of ₹3,352 crore for Q1, missing revenue expectations despite an 11% year-on-year increase to ₹24,479 crore.