Analyse the shift from 'ecosystem creation' to 'ecosystem deepening' in India's industrial policy approach, with reference to the semiconductor sector.

NITI Aayog's Frontier Tech Hub roadmap, Future of India's Semiconductor Industry (May 2026), signals a deliberate policy pivot — from attracting fabrication capacity to building indigenous capability across the chip value chain [1].

Phase I — Ecosystem creation (2021–2025)

• The India Semiconductor Mission (ISM), launched under MeitY in 2021 with a ₹76,000 crore outlay, offered capital subsidies for fabs, OSAT units and design firms [4].
• The logic was investment attraction: de-risk entry costs, seed foundational plants, and secure anchor investors.
• Its limit was structural — India remained an assembly-heavy, import-dependent electronics economy, with the roadmap conceding that the local ecosystem cannot yet meet domestic demand [1].

Phase II — Ecosystem deepening

• ISM 2.0, announced in Union Budget 2026, marks a move from creation to consolidation and global integration, deepening support for design, manufacturing and advanced skills [3].
• Targets a USD 120–150 billion value chain by 2035, with 10–13% global market share and 15–25% self-sufficiency by 2030 [1].
• Prioritises frontier niches — advanced packaging, compound semiconductors, wide-bandgap materials and AI-native chip design — over the leading-node wafer race [2].
• Rests on talent depth: India supplies nearly a fifth of the global chip-design workforce, with a goal of 100+ breakthrough design IPs by 2035 [1].

Why the shift matters analytically

• Comparative advantage: subsidies buy plants, not capability; deepening targets IP, materials and R&D where value is captured.
• Strategic autonomy: partnerships with the US, Japan and Europe hedge against supply-chain weaponisation [2].
• Governance: joint launch by the Finance Ministry, MeitY and NITI Aayog reflects inter-ministerial ownership rather than a single-scheme approach [1].

Constraints persist — critical-mineral dependence, capital intensity and long gestation. Yet the pivot is sound: India is sequencing industrial policy from capacity to capability, aligning the chip mission with the Viksit Bharat 2047 vision of technological self-reliance.