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Cabinet approves programme for semiconductor manufacturing
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SME Times News Bureau | 15 Dec, 2021
The Centre on Wednesday approved a comprehensive programme for the
development of sustainable semiconductor and display ecosystem in the
country.
Accordingly, Union Cabinet took the decision to launch
the programme that is expected to usher in a new era of electronics
manufacturing by providing a globally competitive incentive package to
companies in semiconductors and display manufacturing as well as design.
"This
shall pave the way for India's technological leadership in these areas
of strategic importance and economic self-reliance," the Cabinet said.
With
the approval of the programme for development of semiconductors and
display manufacturing ecosystem in India, an outlay of Rs 76,000 crore
has been made.
Besides, the scheme has incentivised "every part
of supply chain including electronic components, sub-assemblies, and
finished goods".
"Incentive support to the tune of Rs 55,392
crore (7.5 billion USD) have been approved under PLI for Larges 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 Rs 98,000 crore (USD 13
billion) are approved for allied sectors comprising of ACC battery, auto
components, telecom & networking products, solar PV modules and
white goods."
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