The Union Cabinet on Tuesday (May 5) approved two new semiconductor plants in India, including one that could be the country’s first display fabrication facility, in a big boost to New Delhi’s chip ambitions. With these, the government has approved a total of 12 chip plants under the first leg of the India Semiconductor Mission, the government’s ambitious Rs 76,000 crore plan to kickstart semiconductor manufacturing in the country, after managing to localise smartphone assembly. India’s foray into semiconductor production and packaging has been outlined as a strategic move by New Delhi to insert itself into the global chip supply chain and establish the sector to deepen domestic value addition in its electronics sector. Semiconductors, used to power every device in the world – from toasters to fighter jets, have become a critical resource amid heightened geopolitical tensions that have engulfed the world in the last few years.…