Govt. announces Rs. 76,000 Cr. scheme for chip manufacturing

The government aims to make India a hub for electronics.

The government of India has announced a Rs. 76,000 crore incentive scheme to boost semiconductor manufacturing in the country.

The new policy aims to develop a semiconductor manufacturing ecosystem in India over the next 5-6 years. It will provide incentives for companies involved in the manufacturing of silicon semiconductor fabs, display fabs, compound semiconductors / silicon photonics / sensors, semiconductor packaging and design.

The plan is to have 1-2 fabrication units for displays and 10 units each for designing and manufacturing components. The Union Cabinet has also approved a plan for the modernization and commercialization of the Semi-conductor Laboratory (SCL).