SRINAGAR: The Union Cabinet on Wednesday approved a production linked incentive (PLI) scheme for semiconductor and display board production in the country, I&B Minister Anurag Thakur said.
The scheme envisages investment of Rs 76,000 crore in semiconductor production over the next 5-6 years, he said.
The programme aims to provide attractive incentive support to companies / consortia that are engaged in Silicon Semiconductor Fabs, Display Fabs, Compound Semiconductors / Silicon Photonics / Sensors (including MEMS) Fabs, Semiconductor Packaging (ATMP / OSAT), Semiconductor Design.
The programme will usher in a new era in electronics manufacturing by providing a globally competitive incentive package to companies in semiconductors and display manufacturing as well as design, said government while adding that semiconductors and displays are the foundation of modern electronics driving the next phase of digital transformation under Industry 4.0.
Telecom and IT Minister Ashwini Vaishnaw said the decision will help design, fabrication, packing and testing of the microchips and develop a complete ecosystem.
Companies including Israel’s Tower Semiconductor, Apple’s contract manufacturer Foxconn and a Singapore-based consortium have shown interest in setting up semiconductor fabrication units in India, a government source said, while adding that Vedanta Group was also keen to set up a display fabrication plant in India, reported Reuters.