Aiming to boost semiconductor manufacturing in India, the Centre has decided to provide uniform fiscal support of 50 per cent of the project cost for setting up of semiconductor fabrication plants.
The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the decision by modifying an existing scheme, ‘Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India’.
Also, the Union Cabinet okayed a Rs 19,500-crore production linked incentive (PLI) scheme on ‘national programme on high efficiency solar PV modules’, seeking to attract Rs 94,000-crore investment in the sector.
Union Information and Broadcasting Minister Anurag Thakur told reporters that the semiconductor fabrication plants decision will encourage investments and make India self reliant in its semiconductor needs. The 50 per cent incentive is applicable to…