EXCLUSIVE: Cabinet set to approve semiconductor manufacturing policy
The union cabinet is likely to approve a Rs 76,000 crore incentive scheme for semiconductor manufacturing at its meeting today.
- Dec 15, 2021,
- Updated Dec 15, 2021 12:23 PM IST
The union cabinet is likely to approve a Rs 76,000 crore incentive scheme for semiconductor manufacturing at its meeting today.
Sources aware of the development said the government proposes to provide multiple incentives to set up for the development of a semiconductor manufacturing ecosystem in India.
The incentives include 25 per cent subsidy on capital expenditure for establishing semiconductor wafer fabrication units in India.
Similar incentives for assembly, testing, packaging units and chip design have also proposed.
Sources also said the semiconductor policy will deepen India's base as a manufacturing hub for semiconductors.
Post cabinet approval, the Ministry of Electronics and Information Technology (MEITY) will notify the final contours of the schemes and invite companies to invest.
From cars to laptops, TV's, washing machines- all use semiconductors. The ongoing global semiconductor shortage has led to shortages across industries, including smartphones, personal computers, game consoles, automobiles and medical devices.
The union cabinet is likely to approve a Rs 76,000 crore incentive scheme for semiconductor manufacturing at its meeting today.
Sources aware of the development said the government proposes to provide multiple incentives to set up for the development of a semiconductor manufacturing ecosystem in India.
The incentives include 25 per cent subsidy on capital expenditure for establishing semiconductor wafer fabrication units in India.
Similar incentives for assembly, testing, packaging units and chip design have also proposed.
Sources also said the semiconductor policy will deepen India's base as a manufacturing hub for semiconductors.
Post cabinet approval, the Ministry of Electronics and Information Technology (MEITY) will notify the final contours of the schemes and invite companies to invest.
From cars to laptops, TV's, washing machines- all use semiconductors. The ongoing global semiconductor shortage has led to shortages across industries, including smartphones, personal computers, game consoles, automobiles and medical devices.