The Union Cabinet on December 15, 2021 cleared the Rs 76,000-cr incentive scheme for semiconductors. Under the “Programme for Development of Semiconductors and Display Manufacturing Ecosystem’, India will set up more than 20 semiconductor design, components manufacturing and display fabrication (fab) units over the next six years.
- This is part of government’s bid to make the country a hub for electronics. The ministry of electronics & IT (MeitY) will now work out the granular details and invite applications.
- The new semiconductor policy will help deepen India’s manufacturing base.
- As part of the scheme, apart from big companies, the Government of India will also seek to incentivise startups to design and make semiconductors. In all, investments worth Rs 1.7 lakh crore are expected to materialise.
- The plan envisages training 85,000 semiconductor engineers to make it a complete C to S (chips to startups) ecosystem (including design, fabrication, testing and packaging).
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