Rupee slide chips away at ISM outlay

India’s ambition to establish itself as a global semiconductor manufacturing hub is encountering unexpected headwinds.A weak rupee is causing what analysts and industry insiders estimate to be a “net double-digit cost overrun” for businesses relying on imported goods and services, significantly reducing the dollar value of subsidies worth Rs 76,000 crore that were unveiled in 2021 under the first phase of the India Semiconductor Mission