Today is a massive day for India. For the first time in history, the Union Budget was presented on a Sunday, and it brought huge news for the technology sector.
While you might be waiting for the next big smartphone launch this month, the government has just announced a roadmap that could change how those phones are made in India. Finance Minister Nirmala Sitharaman officially announced the India Semiconductor Mission (ISM) 2.0 today.
Here is a simple breakdown of the biggest technology updates from the Budget, upcoming AI events, and the gadgets launching in February 2026.
1. Budget 2026: The Rise of Semiconductor Mission 2.0
The biggest headline today is the upgrade to India’s chip-making plans. The Finance Minister admitted that ISM 1.0 was good for setting up assembly plants, but ISM 2.0 is about owning the technology.
What is new in ISM 2.0?
- Beyond Assembly: The focus is shifting from just “packaging” chips to creating them from scratch.
- Raw Materials & Equipment: The government will fund companies that produce the special gases, chemicals, and machines needed to make chips.
- Indian IP (Intellectual Property): Big incentives were announced for Indian startups to design their own chip architecture rather than buying it from foreign companies.
Why this matters: Currently, India imports most of the high-tech machinery used in factories. If ISM 2.0 succeeds, India won’t just assemble iPhones; it will manufacture the complex components inside them.
2. ₹40,000 Crore Boost for Electronics
The government is doubling down on making India a global electronics hub. The Finance Minister proposed increasing the outlay for the Electronics Components Manufacturing Scheme to ₹40,000 crore (up from around ₹22,900 crore).
Key Takeaways:
- Cheaper Film Gear: Customs duty has been waived on high-end cameras and TV equipment used by film and news crews.
- Cloud Computing Tax Holiday: A new tax break was proposed for global cloud companies that set up large data centers in India. This is to ensure Indian user data stays within the country.
- Gaming Parts Update: In a slight twist, customs duty exemptions on certain video game manufacturing parts were removed, which might impact the cost of local assembly for consoles slightly.
3. The “India AI Impact Summit” is Coming
While the Budget focused on hardware, the software focus is shifting to Artificial Intelligence. The government confirmed that the India AI Impact Summit 2026 will be held from February 16 to 20 at Bharat Mandapam, New Delhi.
Tech Minister Ashwini Vaishnaw stated that over 200 sector-specific AI models developed by Indian IT companies will be launched during this event. This is being called the first major AI summit in the “Global South” and will focus on how AI can help in agriculture, health, and education.
4. Green Tech: ₹20,000 Crore for Carbon Capture
Technology isn’t just about phones; it’s about saving the planet too. A massive ₹20,000 crore fund was announced for Carbon Capture, Utilisation, and Storage (CCUS) technologies.
This is a high-tech method where factories use special machines to “catch” carbon dioxide before it enters the air and store it underground or reuse it. This is a big signal that India wants to lead in Green Tech engineering.
5. Smartphone Launches to Watch in February 2026
Moving away from the budget, February is going to be a busy month for gadget lovers. Here are the confirmed and expected launches:
- Samsung Galaxy S26 Series: The biggest launch of the month is expected around February 25. Rumors suggest the S26 Ultra will feature a new “Privacy Display” and the Snapdragon 8 Elite Gen 5 chip.
- iQOO 15 Series: The iQOO 15 Ultra is launching in China first on February 4, with an India launch for the iQOO 15R expected by February 24.
- Vivo V70 Series: Known for their cameras, the new V70 and V70 Elite are expected to arrive mid-month with a focus on portrait photography.
Read More : India’s AI Revolution
Frequently Asked Questions (FAQs)
Q1: Did mobile phones get cheaper in Budget 2026?
The budget focused more on manufacturing components (making parts in India) than direct tax cuts on finished phones. However, the huge ₹40,000 crore push for local parts should make phones cheaper to repair and buy in the long run.
Q2: What is the India Semiconductor Mission 2.0?
It is the second phase of India’s chip plan. Phase 1 was about setting up factories. Phase 2 is about designing the chips and making the machines that build them, so India doesn’t have to rely on other countries.
Q3: When is the Samsung Galaxy S26 launching in India?
Samsung has not officially confirmed the date yet, but leaks strongly point to the global “Unpacked” event happening on February 25, 2026.
Q4: Will gaming consoles become expensive?
They might see a small price difference or no change. The government removed some duty exemptions on video game parts, but this usually affects manufacturers more than direct buyers immediately.
Q5: Is the Union Budget always on a Sunday?
No. This year (2026) was unique. The Budget is usually presented on February 1st, regardless of the day. Since Feb 1 was a Sunday this year, the tradition continue
