India: INR760bn sanctioned for designing, manufacturing semicon-chips

• The Union Cabinet has cleared INR760bn incentive scheme for semiconductors. Under this scheme, more than 20 semiconductor design, components manufacturing and display fabrication (fab) units will be set up over the next six years.
• In total, the government has committed support of INR2.3tr (USD30bn) to position India as global hub for electronics manufacturing.
• Incentive support to the tune of INR553.9bn (USD7.5bn) have been approved under production linked incentive (PLI) for large scale electronics manufacturing, PLI for IT hardware, SPECS scheme and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme.
• In addition, PLI incentives to the quantum of INR980bn (USD13bn) are approved for allied sectors comprising of ACC battery, auto components, telecom & networking products, solar PV modules and white goods.

External Link : https://pib.gov.in/PressReleasePage.aspx?PRID=1781723