Government notifies semiconductor policy to push manufacturing
The center notified the semiconductor policy that aims to promote the manufacturing of semiconductor chips in the country. As per the notification, the government will provide up to 50% of the cost for setting up two semiconductors and two display fabs units. The Application window will start from 1 January and will be open for 45 days. “The government may extend the benefits of Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme… Up to 2.5% of the outlay of the scheme shall be earmarked for meeting the R&D, skill development and training requirements for the development of semiconductor… Semiconductor Fab(s) set up in India will be supported through purchase preference in procurement of electronic products by the Government under the Public Procurement (Preference to Make in India) Order 2017,” reads the notification. The Centre is planning to give incentives of Rs 76,000 crore to set up over 20 semiconductor companies, components manufacturing and display fabrication units in the next six years to make India an electronics market.“
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