Government of India is reportedly planning an incentives worth Rs 76000 crore over the next six year to boost the domestic manufacturing of semiconductor chips. The incentives will be used for setting up of over 20 semiconductor design, components manufacturing and display fabrication units in the country.
The scheme will be sent to the Cabinet next week for approval .After its approval from the Cabinet, the ministry of Electronics and Information Technology (MeitY) will work on the details and applications will be sent for companies to invest.
The government plans to set two fab units for semiconductor display, and 10 units each for designing and manufacturing components. These semiconductors will be used in a wide range of products from automotives to smart phones to electronics gadgets.
“Through various PLI (production linked incentive) schemes, the Centre has tried to broaden the scope of manufacturing and export from India while the semiconductor policy will help deepen India’s manufacturing base,” a senior government official was quoted in a Economic Times report as saying.
